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(M3) Key Support Remains Exposed

BOBL TECHS
  • RES 4: 119.020 High May 11
  • RES 3: 118.610 High May 11
  • RES 2: 117.880/118.240 High May 18 / 17
  • RES 1: 117.661 20-day EMA
  • PRICE: 117.160 @ 05:13 BST May 30
  • SUP 1: 116.550 Low May 26
  • SUP 2: 116.420 Low Apr 19 and the bear trigger
  • SUP 3: 116.170 Low Mar 13
  • SUP 4: 115.700 Low Mar 10

The short-term outlook in Bobl futures remains bearish despite Monday’s bounce. The recent extension lower has exposed 116.420, the Apr 19 low and bear trigger. A break would strengthen bearish conditions and signal scope for a move towards 116.170, the Mar 13 low. On the upside, a firm resistance is seen at 117.513, the 20-day EMA. A breach of this average would ease bearish pressure.

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