Free Trial

(Z9) Bears eye key support *RES 4:.......>

BOBL TECHS: (Z9) Bears eye key support
*RES 4: 137.000 Round number resistance
*RES 3: 136.880 Contract high, Sep 3
*RES 2: 136.630 High Sep 4
*RES 1: 136.560 High Sep 4
*PRICE: 136.090 @ 02:52 GMT Sep 10
*SUP 1: 136.060/050 Low Aug 23 and Sep 9
*SUP 2: 136.020 Low Aug 22 and key support
*SUP 3: 135.730 Low Aug 7
*SUP 4: 135.711 50-day EMA
Z9 Bobl selling pressure returned yesterday. The focus near-term is on key
support at 136.02, Aug 22 low. A break would undermine bullish sentiment further
and signal potential for a deeper correction near-term. This would open 135.73,
the low of Aug 7. Momentum studies are pointing south reinforcing the developing
bearish theme. Initial resistance is 136.560, Aug 5 high. If 136.02 holds and
prices move above 136.560, this would alter the directional outlook.

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.