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(M3) Holding On To Recent Gains

BOBL TECHS
  • RES 4: 119.009 61.8 retracement of the Mar 20 - Apr 19 downleg
  • RES 3: 118.515 50.0% retracement of the Mar 20 - Apr 19 downleg
  • RES 2: 118.280 High Apr 12
  • RES 1: 118.030 High Apr 26
  • PRICE: 117.570 @ 05:18 BST Apr 27
  • SUP 1: 116.720/420 Low Apr 25 / 19 and the bear trigger
  • SUP 2: 116.370 Low Mar 15
  • SUP 3: 116.125 76.4% retracement of the Mar 6 - 20 rally
  • SUP 4: 115.700 Low Mar 10

A strong recovery in Bobl futures on Tuesday continues to highlight a potential short-term reversal. The contract has traded above resistance at the 20-day EMA - at 117.437. A continuation higher would open 118.280, the Apr 12 high. Clearance of this level would expose 118.280, the Apr 12 high. On the downside, key support has been defined at 116.420, the Apr 19 low, where a break would reinstate the recent bearish theme.

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