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(Z2) Extends This Week’s Bearish Retracement

BOBL TECHS
  • RES 4: 122.510 High Sep 12
  • RES 3: 121.950 High Oct 4 and the bull trigger
  • RES 2: 121.010/330 High Oct 28 / 5
  • RES 1: 120.420 High Nov 1
  • PRICE: 119.050 @ 08:27 GMT Nov 3
  • SUP 1: 118.900 Intraday low
  • SUP 2: 118.430 Low Oct 24
  • SUP 3: 117.630 2.50 proj of the Aug 25 - Sep 1 - Sep 6 price swing
  • SUP 4: 117.342 2.618 proj of the Aug 25 - Sep 1 - Sep 6 price swing

Bobl futures are trading lower and have breached support at 119.090, the Oct 27 low. This undermines the recent bullish theme and an extension lower would highlight the risk of a pullback towards the key support and bear trigger at 117.630, the Oct 21 low. On the upside, key resistance has been defined at 121.010, the Oct 28 high. A break of this level is required to confirm a resumption of bullish activity.

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