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(U3) Trend Outlook Remains Bearish

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: 116.080/342 High Jun 20 / 20-day EMA
  • PRICE: 115.900 @ 05:05 BST Jun 22
  • SUP 1: 115.380 Low Jun 15
  • 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 maintain a bearish tone and last week’s extension lower reinforces bearish conditions. Short-term gains are considered corrective. Price has recently breached 116.250, the Jun 8 low and cleared key support at 115.870, the May 26 low. The break of this latter level strengthens bearish conditions and opens 115.198, a Fibonacci projection. Resistance to watch is 116.990, the Jun 12 high. A break would ease bearish pressure.

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