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(M1) Trades Through The 20-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: 134.825 50-day EMA
  • RES 1: 134.740 High May 25
  • PRICE: 134.700 @ 05:22 BST May 26
  • 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 yesterday and have cleared the 20-day EMA as the correction extends. Attention turns to the area of resistance around the 50-day EMA that intersects at 134.825. A clear break of the average would signal scope for a stronger recovery and potentially expose 135.040. On the downside, initial support lies at 134.410, May 24 low. The broader trend remains bearish and the next key support and bear trigger is 134.180/140.

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