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(M3) Sharp Reversal

BOBL TECHS
  • RES 4: 118.237 76.4% retracement of Tuesday’s sell-off
  • RES 3: 117.908 61.8% retracement of Tuesday’s sell-off
  • RES 2: 117.382 38.2% retracement of Tuesday’s sell-off
  • RES 1: 116.890 Intraday high
  • PRICE: 116.740 @ 05:23 GMT Mar 15
  • SUP 1: 116.288 20-day EMA
  • SUP 2: 116.170 Low Mar 13
  • SUP 3: 115.682 76.4% retracement of the Mar 6 - 13 rally
  • SUP 4: 114.740 Low Mar 6 and key support

Bobl futures pulled back sharply yesterday and the contract has retraced most of Monday’s strong impulsive bull run. The pullback is considered corrective - for now - however a break support at the 20-day EMA would signal scope for a continuation lower and a deeper retracement. The average intersects at 116.288. On the upside, key resistance and the bull trigger has been defined at 118.760, Tuesday’s high.

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