German Bonds (Bobl) - Remain Buoyant

Published 11/02/2011, 08:28 AM
Updated 07/09/2023, 06:32 AM
Bobl:

Bobl remains buoyant and can go to the previous highs of 123.83 before coming under a bit of pressure. We are still pointing higher on the technical indicators, but do be careful around this 123.83 area as short term we are overbought and therefore liable to pullbacks to unwind this scenario.

123.27 to 123.00 offers support today, and we shall have to see what the buyers do at these lower levels.. If they can defend this support we would be looking at the market coming back and once more testing 123.83. Above 123.98 and we are looking at 124.36 overall this month.

Failure to maintain over 123 sees sellers back in the game and they will try and drive us lower to 122.67/63. All shorts should be covered on weakness to these lower levels. Buyers are expected here and they will hold unless a break below 122.56 occurs.

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