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(U2) Fresh Cycle Low

BOBL TECHS
Fixed Income Technical Analysismarkets-real-timeBulletMarketsFixed Income
  • RES 4: 123.675 20-day EMA
  • RES 3: 123.280 High Jun 10
  • RES 2: 122.660 High Jun 13
  • RES 1: 122.390 High Jun 15
  • PRICE: 121.160 @ 05:14 BST Jun 17
  • SUP 1: 119.940 Low Jun 16
  • SUP 2: 119.590 4.00 proj of the May 12 - 18 - 26 price swing
  • SUP 3: 119050 Low Jul 29 2011 (cont)
  • SUP 4: 118.420 Low Jul 27 2011

Bobl futures remain soft and the primary downtrend remains intact. A fresh cycle low Thursday reinforces bearish conditions. The recent breach of 124.840, May 6 low confirmed a resumption of the bear cycle and maintains the broader bearish price sequence of lower lows and lower highs. The focus is on 119.590 next, a Fibonacci projection. Initial firm resistance is still seen at 123.675, the 20-day EMA.

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  • RES 4: 123.675 20-day EMA
  • RES 3: 123.280 High Jun 10
  • RES 2: 122.660 High Jun 13
  • RES 1: 122.390 High Jun 15
  • PRICE: 121.160 @ 05:14 BST Jun 17
  • SUP 1: 119.940 Low Jun 16
  • SUP 2: 119.590 4.00 proj of the May 12 - 18 - 26 price swing
  • SUP 3: 119050 Low Jul 29 2011 (cont)
  • SUP 4: 118.420 Low Jul 27 2011

Bobl futures remain soft and the primary downtrend remains intact. A fresh cycle low Thursday reinforces bearish conditions. The recent breach of 124.840, May 6 low confirmed a resumption of the bear cycle and maintains the broader bearish price sequence of lower lows and lower highs. The focus is on 119.590 next, a Fibonacci projection. Initial firm resistance is still seen at 123.675, the 20-day EMA.