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(M3) Remains Above Support

BOBL TECHS
  • RES 4: 120.130 High Mar 24
  • RES 3: 119.621 76.4% retracement of the Mar 20 - Apr 19 downleg
  • RES 2: 119.190 High Apr 6
  • RES 1: 118.530/119.120 High May 8 / 4
  • PRICE: 118.180 @ 05:20 BST May 9
  • SUP 1: 118.010 Low May 8
  • SUP 2: 117.840 20-day EMA
  • SUP 3: 117.370 Low May 2
  • SUP 4: 116.890/420 Low Apr 28 / 19 and the bear trigger

A recovery in Bobl futures last week reinforces a bullish theme and the most recent pullback is considered corrective. The contract last week cleared 118.030, the Apr 26 high, and this confirmed a resumption of the bull cycle that started Apr 19. The focus is on a climb towards 119.190 next, the Apr 6 high and 119.621, a Fibonacci retracement. Key support has been defined at 116.420, the Apr 19 low. Initial firm support is at 117.840, the 20-day EMA.

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