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(M4) Trend Outlook Remains Bearish

BOBL TECHS
  • RES 4: 119.050 High Feb 8
  • RES 2: 118.790 High Feb 15 and Mar 8 and the bull trigger
  • RES 3: 118.460 High Mar 12
  • RES 1: 117.856/118.310 20-day EMA / High Mar 27
  • PRICE: 117.360 @ 05:30 BST Apr 11
  • SUP 1: 117.220 Low Apr 10
  • SUP 2: 117.200 Low Feb 29 and the bear trigger
  • SUP 3: 117.000 Round number support
  • SUP 4: 116.740 High Mar 5 (cont)

Bobl futures traded lower Wednesday and a bearish threat remains present. Key support to watch lies at 117.200, the Feb 29 low. Clearance of this level would confirm a continuation of the downtrend that started early December last year. For bulls, a break of 118.310, the Mar 27 high, would instead highlight a short-term reversal and expose key resistance at 118.790, the Feb 15 / Mar 8 high.

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