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(M2) Fresh Cycle Low

BOBL TECHS
  • RES 4: 129.350 High Apr 4 and a reversal point
  • RES 3: 128.830 High Apr 7
  • RES 2: 128.310 High Apr 8/28 and a key near-term resistance
  • RES 1: 127.792 20-day EMA
  • PRICE: 127.200 @ 04:57 BST May 5
  • SUP 1: 126.530 Low May 4
  • SUP 2: 126.480 Low Jun 5 2014 (cont)
  • SUP 3: 126.196 0.50 proj of the Mar 7 - 29 - Apr 4 price swing
  • SUP 4: 126.00 Round number support

Bobl futures remain below the Apr 28 high of 128.310. Trend conditions remain bearish. Fresh cycle lows in April, and again yesterday, reinforce the primary downtrend, maintaining the broader bearish price sequence of lower lows and lower highs. Note that moving averages continue to point south. An extension lower would open 126.480 next, Jun 5 2014 low (cont). Key short-term trend resistance is at 128.310, the Apr 14/28 high.

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