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(Z1) Heading South

BOBL TECHS
  • RES 4: 135.540 High Sep 21 and key near-term resistance
  • RES 4: 135.380 High Sep 23
  • RES 3: 135.200 Low Sep 17 and recent breakout level / High Oct 4
  • RES 2: 135.060 High Oct 7
  • PRICE: 134.720 @ 05:08 BST Oct 11
  • SUP 1: 134.677 3.236 proj of the Aug 20 - 27 - 31 price swing
  • SUP 2: 134.660 Low Sep 7 and 8 (cont)
  • SUP 3: 134.548 61.8% retracement of the Jun - Sep rally
  • SUP 4: 134.410 Low Jul 13 (cont)

Bobl futures outlook remains bearish and the contract has resumed its downtrend.The continued move lower maintains the current bearish price sequence of lower lows and lower highs that defines a downtrend and signals scope for further weakness. The focus is on 134.677 next, a Fibonacci projection. On the upside, key short-term resistance has been defined at 135.060.

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