BOBL TECHS: (H6) Trend Condition Is Oversold
- RES 4: 117.140 High Nov 26 and key resistance
- RES 3: 117.070 High Nov 27
- RES 2: 116.960 High Dec 1
- RES 1: 116.320/770 High Dec 8 / 3
- PRICE: 115.900 @ 13:51 GMT Dec 10
- SUP 1: 115.720 Intraday low
- SUP 2: 115.660.4.000 proj of the Nov 6 - 14 - 26 price swing
- SUP 3: 115.600 Round number support
- SUP 4: 115.573 4.236 proj of the Nov 6 - 14 - 26 price swing
The trend theme in Bobl futures remains bearish - last week’s sell-off plus this week’s extension, reinforces a bear theme. Price last week breached support at 116.790, the Nov 14 and 20 low. This confirmed a resumption of the downtrend that started mid-October. Sights are on 115.660 next, a Fibonacci projection. Note that the trend is oversold, a recovery would allow this set-up to unwind. First important resistance is at 116.770, the Dec 3 high.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
MNI EXCLUSIVE: Ex-BLS Commissioner On Missing Data
Former BLS commissioner Katharine Abraham discusses the missing October jobs report -- on MNI Policy MainWire now, for more details please contact sales@marketnews.com.
STIR: Effective Fed Funds Rate
FRBNY EFFR for prior session:
- Daily Effective Fed Funds Rate: 3.87% (+0.00), volume: $83B
- Daily Overnight Bank Funding Rate: 3.87% (+0.00), volume: $162B
SLOVAKIA AUCTION PREVIEW: On offer next week
Slovakia has announced it will be looking to sell the following at its auction next Tuesday, November 18:
- the 3.00% Feb-28 SlovGB (ISIN: SK4000024683)
- the 0.375% Apr-36 SlovGB (ISIN: SK4000018958)
- the 4.00% Feb-43 SlovGB (ISIN: SK4000022547)
- the 2.00% Oct-47 SlovGB (ISIN: SK4120013400)
