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(Z1) Starting The Week On A Soft Note

BOBL TECHS
  • RES 4: 135.380 High Sep 23
  • RES 4: 135.200 Low Sep 17 and recent breakout level / High Oct 4
  • RES 3: 135.060 High Oct 7
  • RES 2: 134.941 20-day EMA
  • PRICE: 134.450 @ 05:24 BST Oct 18
  • SUP 1: 134.320 Low Oct 13 and the bear trigger
  • SUP 2: 134.285 76.4% retracement of the Jun - Sep rally
  • SUP 3: 134.136 1.382 proj of the Sep 21 - 28 - Oct 4 price swing
  • SUP 4: 134.070 Low Jul 6 (cont)

Bobl futures are starting the week on a softer note. The pullback Friday and this morning suggest the short lived correction last week is over. Resistance is seen at 134.941, the 20-day EMA and a breach of this level is required to signal scope for a stronger bounce towards 135.060, the Oct 7 high. The broader trend condition remains bearish and an extension lower would open 134.320, the Oct 13 low and the bear trigger.

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