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Free Access(Z1) Needle Points South
- RES 4: 136.030 High Aug 30 , 31
- RES 4: 135.870 High Sep 3
- RES 3: 135.660 High Sep 7 and 9 and key near-term resistance
- RES 2: 135.550 High Sep 14
- PRICE: 135.330 @ 05:07 BST Sep 23
- SUP 1: 135.200 Low Sep 17
- SUP 2: 135.136 2.236 proj of the Aug 20 - 27 - 31 price swing
- SUP 3: 135.077 2.382 proj of the Aug 20 - 27 - 31 price swing
- SUP 4: 135.030 2.50 proj of the Aug 20 - 27 - 31 price swing
Bobl futures outlook remains bearish despite recent gains. Last week's extension lower marked a continuation of the bearish price sequence of lower lows and lower highs, signalling scope for a further downside. The focus is on 135.136 next, a Fibonacci projection. Initial firm resistance is seen at 135.550, Sep 14 high where a break is required to ease current bearish pressure. Short-term upticks are considered corrective.
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