Free Trial

(Z0) Corrective Cycle

BOBL TECHS
  • RES 4: 136.060 2.000 retracement of the May - Jun sell-off (cont)
  • RES 3: 136.000 Round number resistance
  • RES 2: 135.907 1.764 proj of Sep 1 - Sep 9 rally from Sep 10 low
  • RES 1: 135.860 High Oct 20 and the bull trigger
  • PRICE: 135.650 @ 05:03 BST Oct 21
  • SUP 1: 135.543 38.2% retracement of the Oct 7 - 20 rally
  • SUP 2: 135.510 Low Oct 15
  • SUP 3: 135.412 20-day EMA
  • SUP 4: 135.370 High Sep 21 and Oct 5 and former breakout level

BOBL futures have stalled and are correcting lower. Key resistance has been defined at 135.860, yesterday's intraday high. Attention is on the next support at 135.510, Oct 15 low ahead of the 20-day EMA at 135.412. A break of the average would signal scope for a deeper pullback. On the upside, clearance of 135.860, the bull trigger, would confirm a resumption of the uptrend and open 135.907, a Fibonacci projection and 136.00.

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.