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(M2) Resumes Its Downtrend

  • RES 4: 131.550 High Mar 11
  • RES 3: 130.870 High Mar 18
  • RES 2: 130.745 20-day EMA
  • RES 1: 129.770 High Mar 25
  • PRICE: 128.740 @ 05:17 GMT Mar 28
  • SUP 1: 128.670 Intraday low
  • SUP 2: 128.340 Low Sep 17 2015 (cont)
  • SUP 3: 128.000 Round number support
  • SUP 4: 127.750 Low Jun 5 2015 (cont)

Bobl futures are trading lower again and start the week on a softer note with bearish momentum conditions still dominating. This has again confirmed a resumption of the underlying downtrend and maintains the broader bearish price sequence of lower lows and lower highs. The break lower paves the way for a move towards 128.340 next, the Sep 14 2015 low (cont). The 20-day EMA at 130.780 is seen as a firm resistance.

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