Free Trial

(Z1) Bearish Focus

BOBL TECHS
  • RES 4: 135.200 Low Sep 17, high Oct 4 and recent breakout level
  • RES 3: 135.060 High Oct 7
  • RES 2: 134.860 High Oct 14
  • RES 1: 134.530/610 20-day EMA / High Oct 28 and key resistance
  • PRICE: 134.380 @ 05:16 GMT Nov 3
  • SUP 1: 133.690 Low Oct 29
  • SUP 2: 133.340 Low Mar 19 and key medium-term support (cont)
  • SUP 3: 133.308 1.764 proj of the Oct 4 - 13 - 14 price swing
  • SUP 4: 133.100 2.00 proj of the Oct 4 - 13 - 14 price swing

Bobl futures rallied sharply higher yesterday. The bounce though is considered corrective. A bearish tone remains intact following last week's move lower and fresh trend low prints. This maintains the current price sequence of lower lows and lower highs. Key short-term trend resistance is at 134.610, Oct 28 high and a break is required to signal scope for a reversal. With trend signals still pointing south, the focus is on 133.340 next.

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.