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(M3) Northbound

BOBL TECHS
  • RES 4: 119.621 76.4% retracement of the Mar 20 - Apr 19 downleg
  • RES 3: 119.190 High Apr 6
  • RES 2: 119.009 61.8% retracement of the Mar 20 - Apr 19 downleg
  • RES 1: 118.600 Intraday high
  • PRICE: 118.530 @ 05:37 BST May 4
  • SUP 1: 117.621 20-day EMA
  • SUP 2: 117.370 Low May 2
  • SUP 3: 116.890/420 Low Apr 28 / 19 and the bear trigger
  • SUP 4: 116.370 Low Mar 15

A continued recovery in Bobl futures this week reinforces a bullish theme. The contract has cleared recent resistance at 118.030, the Apr 26 high, and this confirms a resumption of the bull cycle that started Apr 19. The focus is on a climb towards 119.009 next, a Fibonacci retracement. Key support has been defined at 116.420, the Apr 19 low, where a break would reinstate a bearish theme. Initial firm support is 117.370, Tuesday’s low.

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