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(M0) Still Heading South *RES 4:.........>

BOBL TECHS
BOBL TECHS: (M0) Still Heading South
*RES 4: 135.500 High May 22
*RES 3: 135.390 High May 26
*RES 2: 135.18 High May 29 and key resistance
*RES 1: 134.96 High Jun 6
*PRICE: 134.790 @ 04:58 BST Jun 4
*SUP 1: 134.680 Low Jun 3
*SUP 2: 134.510 Low Apr 14
*SUP 3: 134.471 61.8% retracement of the Mar 19 - May 4 rally
*SUP 4: 134.380 Low Apr 9
Bobl futures traded lower yesterday and remain bearish. The break of support at
134.790 confirms a resumption of the downtrend that has been in place since
peaking at 136.30 on Apr 5. Furthermore, a bearish price sequence of lower lows
and lower highs holds reinforcing current conditions. Attention is on 134.471
next, 61.8% retracement of the Mar 19 - May 4 rally. Key S/T resistance has been
defined at 135.180, May 29 high.

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