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(M4) Trend Needle Points South

BOBL TECHS
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income Bullets
  • RES 4: 117.880 High Apr 15
  • RES 2: 117.620 High Apr 19
  • RES 3: 117.036/440 High 50-day EMA / High May 16
  • RES 1: 116.525 20-day EMA
  • PRICE: 115.920 @ 05:41 BST May 31
  • SUP 1: 115.710 Low May 29
  • SUP 2: 115.410 2.00 proj of the Mar 8 - 18 - 27 price swing
  • SUP 3: 115.250 Low Oct 23 2023 (cont)
  • SUP 4: 115.130 Low Oct 19 2023 (cont)

A downtrend in Bobl futures remains intact and Wednesday’s sell-off and fresh cycle low reinforces current conditions. The move down confirms a resumption of the downtrend and maintains the price sequence of lower lows and lower highs. This opens 115.410 next, a Fibonacci projection. On the upside, initial firm resistance is seen at 116.525, the 20-day EMA. Key resistance and the reversal trigger is at 117.440, the May 16 high.

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  • RES 4: 117.880 High Apr 15
  • RES 2: 117.620 High Apr 19
  • RES 3: 117.036/440 High 50-day EMA / High May 16
  • RES 1: 116.525 20-day EMA
  • PRICE: 115.920 @ 05:41 BST May 31
  • SUP 1: 115.710 Low May 29
  • SUP 2: 115.410 2.00 proj of the Mar 8 - 18 - 27 price swing
  • SUP 3: 115.250 Low Oct 23 2023 (cont)
  • SUP 4: 115.130 Low Oct 19 2023 (cont)

A downtrend in Bobl futures remains intact and Wednesday’s sell-off and fresh cycle low reinforces current conditions. The move down confirms a resumption of the downtrend and maintains the price sequence of lower lows and lower highs. This opens 115.410 next, a Fibonacci projection. On the upside, initial firm resistance is seen at 116.525, the 20-day EMA. Key resistance and the reversal trigger is at 117.440, the May 16 high.