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BOBL TECHS: (U3) Bearish Price Action

BOBL TECHS
  • RES 4: 117.700 High Jun 1 and key short-term resistance
  • RES 3: 117.200 High Jun 6
  • RES 2: 116.990/117.010 High Jun 12 / 7
  • RES 1: 116.390 High Jun 14
  • PRICE: 115.900 @ 05:03 BST Jun 15
  • SUP 1: 115.830 Low Jun 14
  • SUP 2: 115.540 1.00 projection of the Jun 1 - 8 - 12 price swing
  • SUP 3: 115.198 1.236 projection of the Jun 1 - 8 - 12 price swing
  • SUP 4: 114.986 1.382 projection of the Jun 1 - 8 - 12 price swing

Bobl futures maintain a softer tone and this week’s continuation lower reinforces bearish conditions. Price has moved through support at 116.250, the Jun 8 low and has pierced key support at 115.870, the May 26 low. Clearance of this level would strengthen bearish conditions. On the upside, resistance to watch is 116.990, the Jun 12 high. A break would ease bearish pressure.

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