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BOBL TECHS: (M3) Trades Through The 20-Day EMA

BOBL TECHS
  • RES 4: 118.280 50.0% retracement of the Mar 20 - Apr 19 downleg
  • RES 3: 118.280 High Apr 12
  • RES 2: 118.021 38.2% retracement of the Mar 20 - Apr 19 downleg
  • RES 1: 117.840 High Apr 25
  • PRICE: 117.680 @ 05:28 BST Apr 26
  • SUP 1: 116.720/420 Low Apr 25 / 19 and the bear trigger
  • SUP 2: 116.370 Low Mar 15
  • SUP 3: 116.125 76.4% retracement of the Mar 6 - 20 rally
  • SUP 4: 115.700 Low Mar 10

A strong recovery in Bobl futures Tuesday highlights a potential short-term reversal. The contract has traded above resistance at the 20-day EMA - at 117.414. A continuation higher would signal scope for a move to 118.021, a Fibonacci retracement. Clearance of this level would open 118.280, the Apr 12 high. On the downside, key support has been defined at 116.420, the Apr 19 low, where a break would reinstate the recent bearish theme.

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