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(M3) Fresh Cycle Low

BOBL TECHS
  • RES 4: 116.890 High Feb 24 and key resistance
  • RES 3: 116.390 High Feb 27
  • RES 2: 116.060 High Feb 28
  • RES 1: 115.440/770 High Mar 6 / 1
  • PRICE: 114.840 @ 05:08 GMT Mar 7
  • SUP 1: 114.740 Low Mar 6
  • SUP 2: 114.730 3.00 proj of the Feb 20 - 22 - 24 recent price swing
  • SUP 3: 114.560 3.236 proj of the Feb 20 - 22 - 24 recent price swing
  • SUP 4: 114.455 3.382 proj of the Feb 20 - 22 - 24 recent price swing

Bobl futures traded lower Monday. This maintains the bearish price sequence of lower lows and lower highs and reinforces the current downtrend. Note that the trend is oversold - any short-term gains would be considered corrective and would allow the oversold reading to unwind. For now, the focus is on 114.730, a Fibonacci projection. Initial resistance is seen at 115.440, the Mar 6 high.

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