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(U3) Bearish Theme

  • RES 4: 116.280 High Jun 29
  • RES 3: 115.910 High Jul 3
  • RES 2: 115.550 20-day EMA
  • RES 1: 115.320 Low Jun 22
  • PRICE: 114.740 @ 05:26 BST Jul 12
  • SUP 1: 114.550 Low Jul 6
  • SUP 2: 114.432 1.764 projection of the Jun 1 - 8 - 12 price swing
  • SUP 3: 114.130 Low Mar 6 (cont) and a major support
  • SUP 4: 114.090 2.00 projection of the Jun 1 - 8 - 12 price swing

Bobl futures are unchanged and remain soft following the move lower last week that confirmed a resumption of the downtrend. The break lower maintains the bearish price sequence of lower lows and lower highs and note that moving average studies are in a bear mode position, reinforcing current trend conditions. The focus is on 114.130, the Mar 6 low on the continuation chart. Initial firm resistance is at 115.320, the Jun 22 low.

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