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(Z1) Trend Conditions Remain Bearish

BOBL TECHS
  • RES 4: 135.200 Low Sep 17, high Oct 4 and recent breakout level
  • RES 3: 135.060 High Oct 7
  • RES 2: 134.860 High Oct 14 and key resistance
  • RES 1: 134.650 20-day EMA
  • PRICE: 134.130 @ 05:24 BST Oct 25
  • SUP 1: 133.800 Low Feb 26 and a key support
  • SUP 2: 133.772 1.236 proj of the Oct 4 - 13 - 14 price swing
  • SUP 3: 133.340 Low Mar 19 and key medium-term support
  • SUP 4: 133.308 1.764 proj of the Oct 4 - 13 - 14 price swing

Bobl futures remain bearish and the recent bounce is considered corrective. Last week's sell-off confirms a resumption of the underlying downtrend and reinforces bearish conditions. Key short-term trend resistance has been defined at 134.860, Oct 14 high and a breach of this level is required to signal scope for a short-term reversal. With momentum still pointing south, the focus is on 133.772 next, a Fibonacci projection.

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