(U3) Strong Bounce Considered Corrective

• 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: 116.410 High Jun 23
• PRICE: 116.080 @ 05:22 BST Jun 26
• SUP 1: 115.320 Low Jun 22 and the bear trigger
• 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 rallied sharply higher Friday, piercing briefly, resistance at the 20-day EMA which intersects at 116.240. The outlook remains bearish following recent fresh cycle lows that maintain a price sequence of lower lows and lower highs. Moving average studies are in a bear mode position too, highlighting a downtrend. The focus is on 115.198, a Fibonacci projection. A clear break of the 20-day EMA would instead strengthen a bullish threat.