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(U1) Tests Key Support

BOBL TECHS
  • RES 4: 134.758 1.382 proj of the May 20 - 26 - 31 price swing
  • RES 3: 134.663 1.236 proj of the May 20 - 26 - 31 price swing
  • RES 2: 134.510 1.00 proj of the May 20 - 26 - 31 price swing
  • RES 1: 134.250/390 High Jun 17 / High Jun 15
  • PRICE: 133.970 @ 05:13 BST Jun 23
  • SUP 1: 133.860 Low May 28, 31, Jun 22 and key S/T support
  • SUP 2: 133.700 76.4% retracement of the May 20 - Jun 11 rally
  • SUP 3: 133.530 Low May 21
  • SUP 4: 133.450 Low May 20 and the bear trigger

Bobl futures dipped lower again yesterday, extending the recent pullback. Although the pullback is considered corrective, a near-term bearish risk remains present. Price is below the 20-day EMA and note that key support is at 133.860, May 28 and 31 low. A break would strengthen a bearish case. On the upside, key resistance and the bull trigger has been defined at 134.510, a Fibonacci projection and the Jun 11 high. Initial resistance is at 134.250.

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