Free Trial

(Z2) Clears The Bear Trigger

BOBL TECHS
  • RES 4: 121.950 High Oct 4 and the bull trigger
  • RES 3: 121.330 High Oct 5
  • RES 2: 119.533/960 20-day EMA / High Oct 14
  • RES 1: 118.540 High Oct 20
  • PRICE: 117.890 @ 06:41 BST Oct 21
  • SUP 1: 117.630 2.50 proj of the Aug 25 - Sep 1 - Sep 6 price swing
  • SUP 2: 117.342 2.618 proj of the Aug 25 - Sep 1 - Sep 6 price swing
  • SUP 3: 117.000 Round number support
  • SUP 4: 116.410 3.00 proj of the Aug 25 - Sep 1 - Sep 6 price swing

Bobl futures continue to weaken. Yesterday’s move lower cleared support and the bear trigger at 118.020, the Sep 28 low. The break confirms a resumption of the primary downtrend and marks 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.