Free Trial

(Z17) 131.15-131.13 Becomes Pivotal To...>

BOBL TECHS
BOBL TECHS: (Z17) 131.15-131.13 Becomes Pivotal To Overall Direction
*RES 4: 131.64 76.4% Fibo of 131.76-131.26
*RES 3: 131.62 Oct 19 high
*RES 2: 131.49/51 Intraday opening gap
*RES 1: 131.45 Oct 19 low, now resistance
*PRICE: 131.32 @1440GMT
*SUP 1: 131.26 Intraday low
*SUP 2: 131.13/15 Oct 11 low, 76.4% Fibo of 130.96-131.76
*SUP 3: 130.96 Oct 6 low
*SUP 4: 130.85 50% Fibo of 129.72-131.98
*COMMENTARY* Continuing the week's slide from Tuesday's 131.76 high. A low of
131.26 so far, as we head back down towards the pivotal 131.15-131.13 area. A
hold here is a must, if recent upside momentum is to survive. In the interim,
look to 131.45 for initial resistance but likely needing to regain levels back
above 131.62-131.64 before overall confidence in the topside will resume. Loss
of 131.13 will disappoint and leave 130.96-130.85 open to challenge.

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.