Free Trial

(Z1) Trend Conditions Remain Bearish

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 and key resistance
  • RES 1: 134.650 20-day EMA
  • PRICE: 134.130 @ 05:24 BST Oct 25
  • SUP 1: 133.800 Low Feb 26 and a key support
  • SUP 2: 133.772 1.236 proj of the Oct 4 - 13 - 14 price swing
  • SUP 3: 133.340 Low Mar 19 and key medium-term support
  • SUP 4: 133.308 1.764 proj of the Oct 4 - 13 - 14 price swing

Bobl futures remain bearish and the recent bounce is considered corrective. Last week's sell-off confirms a resumption of the underlying downtrend and reinforces bearish conditions. Key short-term trend resistance has been defined at 134.860, Oct 14 high and a breach of this level is required to signal scope for a short-term reversal. With momentum still pointing south, the focus is on 133.772 next, a Fibonacci projection.

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.