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(M3) Short-Term Recovery Extends

BOBL TECHS
  • RES 4: 119.120 High May 4 and key resistance
  • RES 3: 119.020 High May 11
  • RES 2: 118.610 High May 16
  • RES 1: 118.270 High May
  • PRICE: 118.020 @ 06:25 BST Jun 1
  • SUP 1: 117.585 20-day EMA
  • SUP 2: 117.080/116.550 Low May 30 / 26
  • SUP 3: 116.420 Low Apr 19 and the bear trigger
  • SUP 4: 116.170 Low Mar 13

Bobl futures started the week on a firmer note and the contract has continued to appreciate. Price is also trading above both the 20- and 50-day EMAs and this strengthens the short-term bull cycle. A continuation higher would open 118.610, the May 11 high. Further out, key short-term resistance is at 119.120, the May 4 high. On the downside, initial support is at yesterday’s low of 117.585, the 20-day EMA.

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