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(Z2) Trend Needle Points South

BOBL TECHS
  • RES 4: 125.200 High Aug 25
  • RES 3: 124.670 High Aug 25
  • RES 2: 124.000 Round number resistance
  • RES 1: 123.160/123.730 High Sep 8 / High Sep 6 and key resistance
  • PRICE: 122.310 @ 05:16 BST Sep 13
  • SUP 1: 121.280/120.990 Low Sep 9 / Low Jun 21 (cont)
  • SUP 2: 120.358 1.382 proj of the Aug 25 - Sep 1 - Sep 6 price swing
  • SUP 3: 119.940 Low Jun 16 and key support (cont)
  • SUP 4: 119.782 1.618 proj of the Aug 25 - Sep 1 - Sep 6 price swing

Bobl futures remain bearish and the break lower last week marks a resumption of the downtrend. Attention is on 120.990, the Jun 21 low (cont). The contract continues to retrace the mid-June to early August climb. Scope is also seen for a move to the key support at 119.940, the Jun 16 major support (cont). On the upside, initial firm resistance is at 123.730, the Sep 6 high.

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