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(M2) Trend Sequence Remains Bearish

BOBL TECHS
  • RES 4: 130.291 50-day EMA
  • RES 3: 130.160 High Mar 23
  • RES 2: 129.350 High Apr 4 and a key trend resistance
  • RES 1: 128.470/911 High Apr 8 / 20-day EMA
  • PRICE: 127.740 @ 13:24 BST Apr 18
  • SUP 1: 127.120 Low Apr 12
  • SUP 2: 126.940 0.382 proj of the Mar 7 - 29 - Apr 4 price swing
  • SUP 3: 126.480 Low Jun 5 2014 (cont)
  • SUP 4: 126.196 0.50 proj of the Mar 7 - 29 - Apr 4 price swing

Bobl futures remain in a downtrend and a fresh cycle low on Apr 12, confirmed a resumption of the primary downtrend. The move lower maintains the broader bearish price sequence of lower lows and lower highs and note that moving averages continue to point south. The focus is on a move towards 126.940, a Fibonacci projection. Key short-term resistance has been defined at 129.350, the Apr 4 high.

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