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(M2) Trend Structure Still Bearish

BOBL TECHS
  • RES 4: 130.727 50-day EMA
  • RES 3: 130.160 High Mar 23
  • RES 2: 129.468 20-day EMA
  • RES 1: 129.350 High Apr 4
  • PRICE: 128.310 @ 05:03 BST Apr 8
  • 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 but are also trading below the Apr 4 high of 129.350. The primary trend is down. Bearish price activity in March 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 129.468 marks a firm resistance.

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