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(M3) Trading Closer To Its Recent Lows

  • RES 4: 121.000 Round number resistance
  • RES 3: 120.610 High Mar 20 and the bull trigger
  • RES 2: 119.170/120.130 High Mar 27 / 24
  • RES 1: 118.640 High Mar 30
  • PRICE: 117.880 @ 05:39 BST Apr 3
  • SUP 1: 117.280 Low Mar 30
  • SUP 2: 116.982 61.8% retracement of the Mar 6 - 20 rally
  • SUP 3: 116.370 Low Mar 15
  • SUP 4: 116.125 76.4% retracement of the Mar 6 - 20 rally

Bobl futures are trading closer to recent lows and maintain a softer tone. An important pivot support has been breached at 117.773 which is the 20-day EMA. Additionally, support at 117.300, the Mar 22 low, has been pierced. A clear break of this level would strengthen current bearish conditions and open 116.982, a Fibonacci retracement. On the upside, initial resistance is seen at 118.640, the Mar 30 high.

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