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(Z0) Needle Points North
- 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: 135.820 High Oct 15
- PRICE: 135.690 @ 05:02 BST Oct 16
- SUP 1: 135.510 Low Oct 15
- SUP 2: 135.370 High Sep 21 and Oct 5 and former breakout level
- SUP 3: 135.285 20-day EMA
- SUP 4: 135.030 Low Oct 6 and key trend support
BOBL futures maintain a bullish tone and gains accelerated yesterday. The contract rebounded on Oct 7 off 135.030. This week's gains have resulted in a clear breach of resistance at 135.370, Sep 21 and the Oct 5 high. The break confirmed a resumption of the uptrend that started early September. The next objectives and potential resistance levels are at 135.907, a Fibonacci projection and 136.00. Initial support lies at 135.510.
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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.