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(H2) Impulsive Gains

BOBL TECHS
  • RES 4: 134.400 High Dec 20
  • RES 3: 133.810 High Dec 23
  • RES 2: 133.480 76.4% retracement of the Nov 30 - Feb 10 bear cycle
  • RES 1: 133.330 Intraday high
  • PRICE: 133.070 @ 12:34 GMT Mar 1
  • SUP 1: 132.040 Intraday low
  • SUP 2: 131.362/130.710 20-day EMA / Low Feb 22 / 23
  • SUP 3: 130.510 Low Feb 15
  • SUP 4: 130.080 Low Feb 10 and the bear trigger

Bobl futures are trading sharply higher too today and this marks an extension of the recovery that started Feb 10 at 130.080. This week’s impulsive gains have resulted in a move through the 20- and 50-day EMAs to reinforce and strengthen the current bullish theme. Price has also probed resistance at 133.250, the Jan 24 high and this opens 133.480 next, a Fibonacci retracement. Initial support is seen at today’s low of 132.040.

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