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(U2) Fresh Short-Term Gains

BOBL TECHS
  • RES 4: 126.710 High May 26
  • RES 3: 126.090 High May 30
  • RES 2: 125.780 High May 31
  • RES 1: 125.112 76.4% retracement of the May 26 - Jun 16 sell-off
  • PRICE: 124.470 @ 05:26 BST Jul 1
  • SUP 1: 123.082 20-day EMA
  • SUP 2: 121.910 Low Jun 28
  • SUP 3: 120.990 Low Jun 21
  • SUP 4: 119.940 Low Jun 16 and bear trigger

Bobl futures are trading on a firmer note and the contract has cleared resistance at 123.960, the Jun 24 high. This confirms a resumption of the current bullish corrective cycle and price has established a positive price sequence of higher highs and higher lows. Scope is seen for a climb towards 125.112, a Fibonacci retracement level. Key short-term support has been defined at 121.190, the Jun 28 low. A break would highlight a reversal.

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