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(M1) Testing The 50-Day EMA

BOBL TECHS
  • RES 4: 135.050 High Apr 22
  • RES 3: 135.040 High May 6 and key short-term resistance
  • RES 2: 135.008 61.8% retracement of the Mar 25 - May 19 downleg
  • RES 1: 134.850 High May 26
  • PRICE: 134.810 @ 05:18 BST May 27
  • SUP 1: 134.410 Low May 24
  • SUP 2: 134.180/140 Low May 19 / Low Feb 26 and key support
  • SUP 3: 134.000 Round number support
  • SUP 4: 133.340 Low Mar 19, 2020 (cont)

Bobl futures traded higher again yesterday extending gains above the 20-day EMA. The recent climb is still considered corrective. Attention is on the area of resistance around the 50-day EMA that intersects at 134.825. The average has been probed and a clear break would signal scope for a stronger S/T recovery and expose 135.040. Initial support lies at 134.410, May 24 low. The broader trend remains bearish and the bear trigger is 134.180/140.

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