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(M3) Sharp Reversal

BOBL TECHS
  • RES 4: 119.580 High Dec 9 2022 (cont)
  • RES 3: 119.230 High Dec 15 2022 (cont)
  • RES 2: 118.880 High Jan 19 (cont) and a key resistance
  • RES 1: 118.730 High Mar 13
  • PRICE: 117.850 @ 05:00 GMT Mar 14
  • SUP 1: 117.206 38.2% retracement of the Mar 6 - 13 rally
  • SUP 2: 116.890 High Feb 24
  • SUP 3: 116.264 61.8% retracement of the Mar 6 - 13 rally
  • SUP 4: 115.700 Low Mar 10

Bobl futures traded sharply higher Monday and in the process cleared a number of key short-term resistance points. The sharp reversal has exposed 118.880, the Jan 19 high on the continuation chart and a key near-term resistance. A break of this level would strengthen the current bullish theme and signal scope for gains above the 119.00 handle. On the downside, initial support is seen at 117.206, a Fibonacci retracement.

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