Free Trial

(Z9) Hugging Channel Resistance *RES.....>

BOBL TECHS
BOBL TECHS: (Z9) Hugging Channel Resistance
*RES 4: 135.060 High Oct 15
*RES 3: 134.730 High Oct 23 and 24 and key resistance
*RES 2: 134.530 High Nov 20
*RES 1: 134.365 Channel top drawn off the Sep 3 high
*PRICE: 134.350 @ 04:44 GMT Nov 26
*SUP 1: 134.110 Low Nov 22
*SUP 2: 133.830 Low Nov 7 and key support
*SUP 3: 133.615 1.236 projection of Sep 3 - Sep 13 decline from Oct 3 high
*SUP 4: 133.140 1.500 projection of Sep 3 - Sep 13 decline from Oct 3 high
Z9 Bobl rebounded Friday and attention is on bear channel resistance currently
being hugged at 134.365, drawn off the Sep 3 high. Clearance of this hurdle and
of resistance at 134.530, Nov 20 high would highlight an important break and a
potential reversal. Note, two important bearish candle patterns unfolded last
week, a long legged doji Wednesday and a bearish engulfing Thursday. A breach of
134.110 would likewise mark an important bearish break

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.