Free Trial

(Z9) Sharp losses *RES 4: 136.880........>

BOBL TECHS
BOBL TECHS: (Z9) Sharp losses
*RES 4: 136.880 Contract high, Sep 3
*RES 3: 136.630 High Sep 4
*RES 2: 136.560 High Sep 5
*RES 1: 136.360 High Sep 9 and 12
*PRICE: 135.350 @ 02:34 GMT Sep 13
*SUP 1: 135.330 Low Sep 12
*SUP 2: 135.033 1.618 projection of Sep 3 - Sep decline from Sep high
*SUP 3: 135.000 Round number support
*SUP 4: 134.720 2.000 projection of Sep 3 - Sep decline from Sep high
Z9 Bobl experienced heavy selling pressure following a failed post ECB bounce.
The move lower confirmed a resumption of the current downtrend and certainly
reinforces bearish sentiment. The break to new lows and perhaps more
importantly, the break of the 50-day EMA at 135.746 set the scene for a deeper
decline. Scope exists for a move towards 135.033 next, a Fibonacci projection.
Key resistance has been defined at 135.360.

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.