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(U3) Bearish Price Action

BOBL TECHS
  • RES 4: 118.000 Round number resistance
  • RES 3: 117.700 High Jun 1 and key short-term resistance
  • RES 2: 117.200 High Jun 6
  • RES 1: 116.990/117.010 High Jun 12 / 7
  • PRICE: 116.160 @ 05:35 BST Jun 14
  • SUP 1: 116.030 Low Jun 13
  • SUP 2: 116.000Round number support
  • SUP 3: 115.970 Low May 29
  • SUP 4: 115.870 Low May 26 and key support

Bobl futures maintain a softer tone and yesterday’s sell-off reinforces bearish conditions. The break lower resulted in a move through support at 116.250, the Jun 8 low. This confirms a resumption of the current bearish cycle and exposes key support at 115.870, the May 26 low. Clearance of this level would strengthen bearish conditions. On the upside, resistance to watch is 116.990, the Jun 12 high. A break would ease bearish pressure.

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