Free Trial

(Z2) Clears The Bear Trigger

BOBL TECHS
  • RES 4: 122.510 High Sep 12
  • RES 3: 121.950 High Oct 4 and the bull trigger
  • RES 2: 121.330 High Oct 5
  • RES 1: 119.653/960 20-day EMA / High Oct 14
  • PRICE: 118.110 @ 10:11 BST Oct 20
  • SUP 1: 117.940 Intraday low
  • SUP 2: 117.918 2.382 proj of the Aug 25 - Sep 1 - Sep 6 price swing
  • SUP 3: 117.630 2.50 proj of the Aug 25 - Sep 1 - Sep 6 price swing
  • SUP 4: 117.342 2.618proj of the Aug 25 - Sep 1 - Sep 6 price swing

Bobl futures have traded lower today and in the process cleared support and the bear trigger at 118.020, the Sep 28 low. The break confirms a resumption of the primary downtrend and an extension of the price sequence of lower lows and lower highs. This paves the way for a move towards 117.630 next, a Fibonacci projection. On the upside, key short-term resistance has been defined at 119.960, the Oct 14 high.

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.