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BONDS

BTP/Bund spread widening by 1.7bps

MARKET INSIGHT

Price Signal Summary - S&P E-Minis Fresh All-Time Highs

EUR

EURUSD exchange traded option

BOND SUMMARY

Drifting lower

FOREX

FX SUMMARY- USD better offered

(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.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com