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(M3) Holding On To Last Week’s Gains

BOBL TECHS
  • RES 4: 117.230 High Feb 14
  • RES 3: 117.040 High Feb 15
  • RES 2: 117.00 Round number resistance
  • RES 1: 116.730 High Mar 10
  • PRICE: 116.490 @ 04:48 GMT Mar 13
  • SUP 1: 116.060 20-day EMA
  • SUP 2: 115.700 Low Mar 10
  • SUP 3: 114.820 Low Mar 9
  • SUP 4: 114.740 Low Mar 7 and the bear trigger

Bobl futures traded sharply higher Friday and the contract remains firm today - price has cleared the 20-day EMA. The impulsive rally is very quickly unwinding a recent oversold condition in the downtrend. The move higher has exposed key short-term resistance at 116.890, the Feb 24 high where a break would strengthen bullish conditions. On the downside, a firm near-term support is seen at 115.700, Friday’s intraday low.

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