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(M3) Resistance Remains Exposed

  • RES 4: 121.290 High Dec 2 2022 (cont)
  • RES 3: 121.000 Round number resistance
  • RES 2: 120.610 High Mar 21
  • RES 1: 120.310 HHigh Mar 21 and the bull trigger
  • PRICE: 119.020 @ 05:27 GMT Mar 24
  • SUP 1: 118.770/117.920 Low Mar 22 / Low Mar 23
  • SUP 2: 117.601/300 20-day EMA / Low Mar 22
  • SUP 3: 116.982 61.8% retracement of the Mar 6 - 20 rally
  • SUP 4: 116.370 Low Mar 15

Bobl futures support at 117.300 remains intact, the Mar 22 low. A key pivot support lies at the 20-day EMA that intersects at 117.601. A clear break of the EMA is required to signal scope for a deeper pullback. This would expose 116.982, a Fibonacci retracement. On the upside, a continuation of gains would refocus attention on 120.610, the Mar 21 high and bull trigger. Initial firm resistance is seen at 120.130, the Mar 24 high.

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