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(H1) Eyeing The 20-day EMA

  • RES 4: 134.940 50-day EMA
  • RES 3: 134.850 High Feb 15
  • RES 2: 134.790 Low Feb 5 and High Feb 18
  • RES 1: 134.692 20-day EMA
  • PRICE: 134.660 @ 05:07 GMT Mar 2
  • SUP 1: 134.360 Low Mar 1
  • SUP 2: 134.100 Intraday hourly low during the Feb 26 session
  • SUP 3: 133.800 Low Feb 26
  • SUP 4: 133.790 Low Jun 5, 2020 (cont)

Bobl futures maintain a bearish theme however last week's volatile session on Thursday/Friday and yesterday's climb means the contract has entered a corrective phase and is unwinding a recent oversold trend condition. The price is trading just ahead of 134.692, the 20-day EMA. A clear breach of this average would signal scope for a stronger recovery and open the 50-day EMA at 134.940. Initial support lies at 134.360, yesterday's low.

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