November 09, 2022 05:29 GMT
(Z2) Outlook Remains Bearish
BOBL TECHS
- RES 4: 122.510 High Sep 12
- RES 3: 121.950 High Oct 4 and a reversal trigger
- RES 2: 121.010/330 High Oct 28 and a bull trigger / High Oct 5
- RES 1: 119.330/120.401 20- and 50 day EMA values
- PRICE: 118.870 @ 05:07 GMT Nov 9
- SUP 1: 118.260 Low Nov 8
- SUP 2: 117.630 Low Oct 21 and the bear trigger
- SUP 3: 117.342 2.618 proj of the Aug 25 - Sep 1 - Sep 6 price swing
- SUP 4: 116.986 2.764 proj of the Aug 25 - Sep 1 - Sep 6 price swing
Bobl futures traded lower yesterday before finding some support. A bearish theme remains intact. Last week's round of weakness resulted in a break of support at 119.090, Oct 27 low. This undermines the recent bullish theme and an extension lower would highlight the risk of a pullback towards key support and the bear trigger at 117.630, the Oct 21 low. On the upside, key resistance has been defined at 121.010, the Oct 28 high. Initial resistance is at 119.330.
172 words