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(M3) Approaching Key Support

BOBL TECHS
  • RES 4: 119.120 High May 4 and key short-term resistance
  • RES 3: 118.610/119.020 High May 16 / 11
  • RES 2: 118.240 High May 17
  • RES 1: 117.661 20-day EMA
  • PRICE: 116.690 @ 05:31 BST May 26
  • SUP 1: 116.590 Low May 25
  • SUP 2: 116.420 Low Apr 19 and the bear trigger
  • SUP 3: 116.170 Low Mar 13
  • SUP 4: 115.700 Low Mar 10

The short-term outlook in Bobl futures remains bearish and the contract traded to a fresh short-term trend low yesterday. The extension lower opens 116.420, Apr 19 low and bear trigger. A break would strengthen bearish conditions and signal scope for a move towards 116.170, the Mar 13 low. On the upside, a firm resistance is seen at 117.661, the 20-day EMA. A breach of this average would ease bearish pressure.

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