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(M3) Bear Leg Extends

BOBL TECHS
  • RES 4: 121.000 Round number resistance
  • RES 3: 120.610 High Mar 20 and the bull trigger
  • RES 2: 119.170/120.130 High Mar 27 / 24
  • RES 1: 118.490 High Mar 28
  • PRICE: 117.880 @ 05:23 BST Mar 30
  • SUP 1: 117.781 20-day EMA
  • SUP 2: 117.300 Low Mar 22
  • SUP 3: 116.982 61.8% retracement of the Mar 6 - 20 rally
  • SUP 4: 116.370 Low Mar 15

Bobl futures continue to edge lower. Support at 117.300 remains intact, Mar 22 low. Note that an important pivot support lies at the 20-day EMA, at 117.781. A clear break of this EMA is required to signal scope for a deeper pullback. This would expose 116.982, a Fibonacci retracement. On the upside, a resumption of gains would refocus attention on 120.610, the Mar 21 high and a bull trigger. Initial resistance is at 118.490, the Mar 28 high.

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