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(U2) Fresh Cycle Low

BOBL TECHS
  • RES 4: 126.710 High May 26
  • RES 3: 125.380 Low May 18
  • RES 2: 125.220 20-day EMA
  • RES 1: 124.490/990 High Jun 3 and Jun 2
  • PRICE: 123.750 @ 05:18 BST Jun 9
  • SUP 1: 123.680 Intraday low
  • SUP 2: 123.570 1.764 proj of the May 12 - 18 - 26 price swing
  • SUP 3: 123.10 Low Sep 18 2013
  • SUP 4: 123.00 Round number support

Bobl futures remain soft with a fresh low print registered again yesterday. Price last week traded through former support at 124.840, May 6 low. Fresh cycle lows confirm a resumption of the primary downtrend and maintain the bearish price sequence of lower lows and lower highs. The focus is on 123.570 next, a Fibonacci projection. Initial firm resistance is seen at 125.220, the 20-day EMA.

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