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(H2) Needle Still Points North

BOBL TECHS
  • RES 4: 134.400 High Dec 20
  • RES 3: 134.000 Round number resistance
  • RES 2: 133.980 High Dec 22
  • RES 1: 133.740 High Mar 1
  • PRICE: 133.020 @ 05:05 GMT Mar 3
  • SUP 1: 132.040 Low Mar 1
  • SUP 2: 131.660/130.710 20-day EMA / Low Feb 22 and 23
  • SUP 3: 130.510 Low Feb 15
  • SUP 4: 130.080 Low Feb 10 and the bear trigger

Bobl futures remain bullish having traded sharply higher Tuesday, marking 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 breached resistance at 133.250, the Jan 24 high and this opens the 134.00 handle next. Initial support is seen at Tuesday’s low of 132.040.

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