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BOBL TECHS: (Z4) Approaching Key Resistance

BOBL TECHS
  • RES 4: 120.722 1.382 retracement proj of the Aug 5 - Sep 3 bear leg
  • RES 3: 120.496 1.236 retracement proj of the Aug 5 - Sep 3 bear leg  
  • RES 2: 120.130 High Aug 5 and a key resistance     
  • RES 1: 119.990 Intraday high                     
  • PRICE: 119.980 @ 05:56 BST Sep 11
  • SUP 1: 119.600 Low Sep 9       
  • SUP 2: 119.222 20-day EMA   
  • SUP 3: 119.030 Low Sep 4    
  • SUP 4: 118.580 Low Sep 3 and key support 

A bullish condition in Bobl futures remains intact and this week’s gains reinforce this theme. All key retracement points of the bear leg between Aug 5 and Sep 3 have been cleared. Attention is on key resistance and the bull trigger at 120.130, the Aug 5 high. A break of this level would strengthen the bullish case. On the downside, initial firm support to watch is 119.222, the 20-day EMA.

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