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(M3) Corrective Bounce 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: 118.980 High Apr 5
  • PRICE: 118.370 @ 05:22 BST Apr 5
  • SUP 1: 117.947/200 20-day EMA / Low Mar 31
  • SUP 2: 116.982 61.8% retracement of the Mar 6 - 20 rally
  • SUP 3: 116.370 Low Mar 15
  • SUP 4: 116.125 76.4% retracement of the Mar 6 - 20 rally

Bobl futures have recovered from recent lows and the contract traded higher again Wednesday. For now, these gains are considered corrective. However, a continuation higher would open 119.170, the Mar 27 high. On the downside, initial support to watch lies at 117.947, the 20-day EMA. The bear trigger is at 117.200, the Mar 32 low, where a break would resume the recent bearish theme and open 116.982, a Fibonacci retracement.

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