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(M3) Breaches The 119.000 Handle

  • RES 4: 120.220 Low Dec 6 2022
  • RES 3: 120.00 Psychological resistance
  • RES 2: 119.580 High Dec 9 2022 (cont)
  • RES 1: 119.470 High Mar 17
  • PRICE: 119.070 @ 05:12 GMT Mar 20
  • SUP 1: 117.354 38.2% retracement of the Mar 6 - 17 rally
  • SUP 2: 117.820 Low Mar 17
  • SUP 3: 116.954 20-day EMA
  • SUP 4: 116.547 50.0% retracement of the Mar 6 - 17 rall

Bobl futures traded higher Friday and price has cleared the 119.00 handle. The outlook remains bullish following last week’s volatile price action. A continuation higher would pave the way for gains towards 119.580, the Dec 9 2022 high on the continuation chart. Further out, scope would be seen for a climb to the 120.00 psychological handle. On the downside, key short-term support is seen at the 20-day EMA which intersects at 116.954.

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