Free Trial

(Z9) Trading Above Former Channel Top....>

BOBL TECHS: (Z9) Trading Above Former Channel Top
*RES 4: 135.060 High Oct 15
*RES 3: 134.995 38.2% retracement of the Sep 3 - Nov 7 decline
*RES 2: 134.730 High Oct 23 and 24 and key resistance
*RES 1: 134.530 High Nov 20 and bull trigger
*PRICE: 134.400 @ 04:54 GMT Nov 28
*SUP 1: 134.281 Former channel top drawn off the Sep 3 high
*SUP 2: 134.110 Low Nov 22
*SUP 3: 133.830 Low Nov 7 and key support
*SUP 4: 133.615 1.236 projection of Sep 3 - Sep 13 decline from Oct 3 high
Z9 Bobl is holding onto recent gains. Price action on Tuesday traded through the
bear channel resistance at 134.365, drawn off the Sep 3 high. The move through
the trendline is bullish however, we also need to see a break of 134.530, Nov 20
high to reinforce this positive development and signal a reversal. This would
open 134.730, the Oct 23 and 24 high. On the downside, support has been defined
at 134.110. A break would alter the picture.

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.