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(H2) Trades Above The 50-Day EMA

BOBL TECHS
  • RES 4: 133.250 High Jan 24
  • RES 3: 133.830 61.8% retracement of the Nov 30 - Feb 10 bear cycle
  • RES 2: 132.680 High Jan 31
  • RES 1: 132.480 High Feb 24
  • PRICE: 132.210 @ 05:15 GMT Mar 1
  • SUP 1: 131.362/130.730 20-day EMA / Low Feb 22 / 23
  • SUP 2: 130.510 Low Feb 15
  • SUP 3: 130.080 Low Feb 10 and the bear trigger
  • SUP 4: 130.000 Psychological round number

Bobl futures traded higher Monday and breached last week’s high to maintain a firmer short-term tone. Recent gains signal scope for a continuation higher and note that price has traded above the 50-day EMA at 132.078. The EMA represents a key resistance area and a clear break would further strengthen the case for short-term bulls. Initial firm support to watch is at 130.710, the Feb 22/23 low.

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