(U1) Trading Closer To The Week’s Lows

RES 4: 134.758 1.382 proj of the May 20 - 26 - 31 price swingRES 3: 134.663 1.236 proj of the May 20 - 26 - 31 price swingRES 2: 134.510 1.00 proj of the May 20 - 26 - 31 price swingRES 1: 134.390 High Jun 15 PRICE: 134.180 @ 05:08 BST Jun 18SUP 1: 134.050 Low Jun 2 SUP 2: 133.860 Low May 28 and 31 ...

June 18, 2021 04:20 GMT

BOBL TECHS

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  • RES 4: 134.758 1.382 proj of the May 20 – 26 – 31 price swing
  • RES 3: 134.663 1.236 proj of the May 20 – 26 – 31 price swing
  • RES 2: 134.510 1.00 proj of the May 20 – 26 – 31 price swing
  • RES 1: 134.390 High Jun 15
  • PRICE: 134.180 @ 05:08 BST Jun 18
  • SUP 1: 134.050 Low Jun 2
  • SUP 2: 133.860 Low May 28 and 31 and key short-term support
  • SUP 3: 133.690 Low May 24
  • SUP 4: 133.450 Low May 20 and the bear trigger

Bobl futures remain closer to this week’s lows but the contract did find some support yesterday. The recent pullback is considered corrective however a bearish risk remains present. Price is below the 20-day EMA and attention is on support at 133.860, May 28 and 31 low. A break of this level would strengthen a bearish case. On the upside, key resistance and the bull trigger has been defined at 134.510, a Fibonacci projection and the Jun 11 high.

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Source: https://marketnews.com/u1-trading-closer-to-the-weeks-lows

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