Free Trial

(U9) Trades below trendline support......>

BOBL TECHS
BOBL TECHS: (U9) Trades below trendline support
*RES 4: 137.375 2.618 projection of Jul 12-Jul 25 rally from Jul 25 low
*RES 3: 137.000 Round number resistance
*RES 2: 136.720 2.000 projection of Jul 12-Jul 25 rally from Jul 25 low
*RES 1: 136.410 Contract high, Sep 3
*PRICE: 136.120 @ 03:07 GMT Sep 4
*SUP 1: 136.090 Low Sep 2
*SUP 2: 135.950 Low Aug 29
*SUP 3: 135.890 Low Aug 26
*SUP 4: 135.640 Low Aug 22 and key support
U9 Bobl traded to a fresh contract high yesterday but failed to hold onto gains.
Price action has started the day trading below trendline support drawn off the
July 12 low, at 136.176. This could be an early reversal signal. Key support is
at 135.640, Aug 22 low. As long as this holds, the bull trend remains in place
with sights on 136.720 . A clear trendline break and a breach of 135.640 would
signal a top. Momentum in this instance would likely be bearish too.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.