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(M2) Extends Pullback From Last Weeks High

BOBL TECHS
  • RES 4: 129.350 High Apr 4
  • RES 3: 128.380 High May 12 and a reversal trigger
  • RES 2: 127.930 High May 26
  • RES 1: 127.299 20-day EMA
  • PRICE: 126.490 @ 05:22 BST June 1
  • SUP 1: 126.010 Low May 6 and a bear trigger
  • SUP 2: 126.00 Round number support
  • SUP 3: 125.450 0.618 proj of the Mar 7 - 29 - Apr 4 price swing
  • SUP 4: 125.260 Low Apr 24 20014 (cont)

Bobl futures traded lower again Tuesday and have extended the pullback from last week’s high of 127.930 (May 26). Trend conditions remain bearish and the move lower is potentially an early signal of a resumption of the broader downtrend. Further weakness would open 126.010, May 6 low and the bear trigger. A break would confirm a resumption of the downtrend. Initial resistance has been defined at 127.930.

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