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(U3) Heading South

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: 115.946/450 20-day EMA / High Jun 26
  • PRICE: 115.280 @ 05:22 BST Jul 6
  • SUP 1: 115.240 Intraday low
  • 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 116.450, the Jun 29 high. The trend outlook remains bearish and this week’s move lower reinforces current conditions. Support at 115.320, the Jun 26 low has been cleared, confirming a resumption of the downtrend. Moving average studies are in a bear mode position, highlighting a downtrend and the focus is on 115.198, a Fibonacci projection. Key short-term resistance is at 116.450, the Jun 26 high.

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