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(Z3) Approaching Key Support

BOBL TECHS
  • RES 4: 116.740 High Sep 14
  • RES 3: 116.567 61.8% retracement of the Sep 1 - Sep 28 downleg
  • RES 2: 116.500 High Oct 10 and the short-term bull trigger
  • RES 1: 115.874 20-day EMA
  • PRICE: 115.170 @ 05:43 BST Oct 19
  • SUP 1: 115.070 Low Oct 4
  • SUP 2: 114.880 Low Sep 28 and the bear trigger
  • SUP 3: 114.710 Low Aug 15 (cont)
  • SUP 4: 114.414 0.764 proj of the Sep 1 - 28 - Oct 12 price swing

Bobl futures extend their pull back from recent highs. This week’s sell-off strengthens the reversal and undermines the recent bullish theme. A continuation lower would signal scope for weakness towards key support and the bear trigger at 114.880, the Sep 28 low. Clearance of this level would further strengthen bearish conditions. Key short-term resistance and a bull trigger has been defined at 116.500, the Oct 10 high.

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