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(H2) Corrective Phase Still In Play

BOBL TECHS
  • RES 4: 132.680 High Jan 31
  • RES 3: 132.201 50-day EMA
  • RES 2: 132.060 High Feb 3
  • RES 1: 131.750 High Feb 22
  • PRICE: 131.010 @ 05:16 GMT Feb 23
  • SUP 1: 130.510 Low Feb 15
  • SUP 2: 130.080 Low Feb 10 and the bear trigger
  • SUP 3: 130.000 Psychological round number
  • SUP 4: 129.460 High Dec 7, 2015 (cont)

Bobl futures remain in a corrective cycle - price has traded above 131.360, the Feb 1 high and above the 20-day EMA. The broader trend direction remains bearish though as highlighted by the moving average set-up and a clear bearish price sequence of lower lows and lower highs. A stronger correction would open 132.060, the Feb 3 high and 132.201, the 50-day EMA. A resumption of weakness would open the 130.080 bear trigger.

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