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(U3) Bearish Outlook

BOBL TECHS
  • RES 4: 117.700 High Jun 1 and key short-term resistance
  • RES 3: 117.200 High Jun 6
  • RES 2: 116.990/117.010 High Jun 12 / 7
  • RES 1: 116.450 High Jun 26
  • PRICE: 115.690 @ 05:20 BST Jun 30
  • SUP 1: 115.570/320 Low Jun 29 / Low Jun 22 and the bear trigger
  • SUP 2: 115.198 1.236 projection of the Jun 1 - 8 - 12 price swing
  • SUP 3: 115.986 1.382 projection of the Jun 1 - 8 - 12 price swing
  • SUP 4: 114.815 1.50 projection of the Jun 1 - 8 - 12 price swing

Bobl futures continue to trade below Monday’s high. Recent gains are considered corrective and the trend outlook remains bearish. Moving average studies are in a bear mode position, highlighting a downtrend and the move lower yesterday reinforces a bearish theme. The focus is on 115.198, a Fibonacci projection. The bear trigger is 115.320, the Jun 22 low. Key short-term resistance has been defined at 116.450, the Jun 26 high.

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