(Z3) Bearish Theme

• RES 4: 116.567 61.8% retracement of the Sep 1 - Sep 28 downleg
• RES 3: 116.500 High Oct 10 and the short-term bull trigger
• RES 2: 116.380 High Oct 13
• RES 1: 116.150 High Oct 16
• PRICE: 116.090 @ 05:48 BST Oct 27
• SUP 1: 115.480/130 Low Oct 26 / 19
• 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

Short-term gains in Bobl futures appear to be a correction. The sell-off between Oct 10 - 19, undermines the recent bullish theme. A resumption of weakness would signal scope for a move towards key support and the bear trigger at 114.880, the Sep 28 low. Clearance of this level would resume the downtrend. Key short-term resistance and a bull trigger has been defined at 116.500, the Oct 10 high. A break would instead signal a short-term reversal.