Free Trial

(Z2) Trend Remains Down

  • 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: 119.831 20-day EMA
  • PRICE: 119.410 @ 05:33 BST Oct 18
  • SUP 1: 118.550 Low Oct 13
  • SUP 2: 118.020 Low Sep 28 and the bear trigger
  • SUP 3: 117.918 2.382 proj of the Aug 25 - Sep 1 - Sep 6 price swing
  • SUP 4: 117.630 2.50 proj of the Aug 25 - Sep 1 - Sep 6 price swing

Bobl futures continue to consolidate and trade closer to recent lows. The trend remains down. The reversal from 121.950, Oct 4 high confirmed the end of the corrective cycle between Sep 28 and Oct 4. Attention is on the key support and bear trigger at 118.020, the Sep 28 low. A break of this level would confirm a resumption of the primary downtrend. 121.950 marks key resistance. The 20-day EMA, at 119.831, is the first resistance.

To read the full story



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.