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(M2) Trend Remains Down

BOBL TECHS
  • RES 4: 131.550 High Mar 11
  • RES 3: 130.870 High Mar 18
  • RES 2: 129.931 20-day EMA
  • RES 1: 129.140 High Mar 28
  • PRICE: 128.730 @ 05:09 GMT Apr 4
  • SUP 1: 127.770/750 Low Mar 29 / Low Jun 5 2015 (cont)
  • SUP 2: 127.540 Low Jun 4 2015 (cont)
  • SUP 3: 127.520 Low Sep 3 2014 (cont)
  • SUP 4: 127.280 Low Sep 18 2014 (cont)

Bobl futures remain above recent lows. The trend however is down and short-term gains are considered corrective. Recent weakness once again confirmed a resumption of the underlying downtrend to maintain the broader bearish price sequence of lower lows and lower highs. The focus is on a move towards 127.750 next, the Jun 5 2015 low (cont). The 20-day EMA at 129.931 is seen as a firm resistance.

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