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(U0) Bounces Off Multi-Week Low

BOBL TECHS
  • RES 4: 135.757 76.4% retrace of the May 4 - Jun 10 decline (cont)
  • RES 3: 135.500 High May 22 (cont)
  • RES 2: 135.421 61.8% retrace of the May 4 - Jun 10 decline (cont)
  • RES 1: 135.350 High Jul 31
  • PRICE: 135.100 @ 03:32 BST Aug 11
  • SUP 1: 134.910 Low Aug 10
  • SUP 2: 134.610/560 Low Jul 20 / Low Jul 13
  • SUP 3: 134.510 Low Jul 2 and key support
  • SUP 4: 134.410 Low Jun 17

After a quiet finish to the Friday session, Bobl futures were under pressure in early Europe, printing a new multi-week low at 134.910 before rebounding. Rallies continue to be sold, with markets having trouble topping 135.350. A break above here opens 135.421 (cont), 61.8% of the Apr - Jun sell-off. Should Bobls return lower, 134.610/560 should provide decent support. The outlook holds relatively neutral for now.

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