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(U3) Failed Break Higher

  • RES 4: 117.700 High Jun 01
  • RES 3: 116.860 High Jun 13
  • RES 2: 116.600 High Jul 18
  • RES 1: 116.587 100-dma
  • PRICE: 116.000 @ 16:22 BST Jul 19
  • SUP 1: 115.230/114.550 Low Jul 13 / 6 and the bear trigger
  • 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 accelerated higher early Wednesday on a soft UK inflation print, putting prices at 116.600. The upside faltered into the Wednesday close, however, with prices fading quickly in US hours. This puts markets on a more neutral footing headed into the second half of the week, with 116.60 the first upside level to watch and key support remaining below at 114.550. This marks the Jul 6 low and this level marks the bear trigger.

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