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(U3) Bearish Threat

BOBL TECHS
  • RES 4: 116.990 High Jun 12 and a key resistance
  • RES 3: 116.860 High Jun 13
  • RES 2: 116.600 High Jul 19 and the bull trigger
  • RES 1: 116.340 High Aug 8
  • PRICE: 115.600 @ 05:19 BST Aug 11
  • SUP 1: 115.230 Low Jul 13 and Aug 4
  • SUP 2: 115.034 76.4% retracement of the Jul 6 - 19 rally
  • SUP 3: 114.730 Low Jul 12
  • SUP 4: 114.550 Low Jul 7 and a key support

Bobl futures traded higher Tuesday, however, the contract has since pulled back. The move lower highlights a potential bearish threat once again and a continuation lower would expose support at 115.230, the Jul 13 and Aug 4 low. Clearance of this level would strengthen a bearish theme and open 115.034, a Fibonacci retracement. On the upside, clearance of 116.340, the Aug 8 high, is required to reinstate a bullish theme.

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