Free Trial

(Z3) Trend Needle Points South

BOBL TECHS
  • RES 4: 116.890 High Sep 8 and a key near-term resistance
  • RES 3: 116.740 High Sep 14
  • RES 2: 116.247 20-day EMA
  • RES 1: 116.150 High Sep 22
  • PRICE: 115.780 @ 05:28 BST Sep 27
  • SUP 1: 115.540 Low Sep 21
  • SUP 2: 115.450 1.50 proj of the Sep 8 - 13 - 14 price swing
  • SUP 3: 115.349 1.618 proj of the Sep 8 - 13 - 14 price swing
  • SUP 4: 115.223 1.764 proj of the Sep 8 - 13 - 14 price swing

Bobl futures remain in a clear downtrend and last week’s breach of 116.00, the Aug 15 low and key support, reinforces a bearish theme. The break lower confirmed a resumption of the downtrend and signals scope for weakness towards 115.450 next, a Fibonacci projection. On the upside, firm short-term resistance has been defined at 116.740, the Sep 14 high. Clearance of this hurdle would signal a possible short-term base.

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.