October 10, 2024 05:59 GMT
BOBL TECHS: (Z4) Clears Support
BOBL TECHS
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- RES 4: 120.650 High Oct 1 and key resistance
- RES 3: 120.190 High Oct 3
- RES 2: 119.870 High Oct 4
- RES 1: 119.350/119.570 High Oct 7 / 20-day EMA
- PRICE: 118.910 @ 05:55 BST Oct 9
- SUP 1: 118.870 Low Oct 10
- SUP 2: 118.580 Low Sep 3 and a key support
- SUP 3: 118.00 Round number support
- SUP 4: 117.789 123.6% retrace projection of the Sep 3 - Oct 1 bull leg
Bobl futures are trading at their recent lows. The reversal from the Oct 1 high, undermines a recent bullish theme and signals scope for a deeper retracement. The contract has traded through a number of short-term retracement points and has breached the 20-day EMA. A continuation lower would open 118.580, the Sep 3 low. Initial resistance is 119.627, the 20-day EMA.
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