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(H2) Trades Above The 20-Day EMA

BOBL TECHS
  • RES 4: 132.680 High Jan 31
  • RES 3: 132.287 50-day EMA
  • RES 2: 132.060 High Feb 3
  • RES 1: 131.630 Intraday high
  • PRICE: 131.460 @ 04:53 GMT Feb 21
  • 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 the 20-day EMA at 131.389. The underlying trend remains bearish though as highlighted by the moving average set-up and a clear bearish price sequence of lower lows and lower highs. Stronger gains would open 132.060, the Feb 3 high and 132.287, the 50-day EMA. A resumption of weakness would refocus attention on the 130.080 bear trigger.

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