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(Z3) Approaching Key Support

BOBL TECHS
  • RES 4: 117.610 High Sep 1 and a key resistance
  • RES 3: 117.230 High Sep 4
  • RES 2: 116.890 High Sep 8 and a key near-term resistance
  • RES 1: 116.640 High Sep 12
  • PRICE: 116.230 @ 5:16 BST Sep 13
  • SUP 1: 116.170 Low Aug 21 and intraday low
  • SUP 2: 116.000 Low Aug 15
  • SUP 3: 115.620 1.236 retracement of the Aug 15 - Sep 1 climb
  • SUP 4: 115.385 1.382 retracement of the Aug 15 - Sep 1 climb

Bobl futures have gapped lower today and resumed their downtrend. Price has breached support at 116.320, the Sep 7 low. This reinforces bearish conditions and a continuation lower would expose 116.00, the Aug 15 low and the next key support. On the upside, initial firm resistance has been defined at 116.890, the Sep 8 high, where a break is required to signal a possible base.

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