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(M3) Still Looking For Gains

BOBL TECHS
  • RES 4: 120.220 Low Dec 6 2022
  • RES 3: 120.00 Psychological resistance
  • RES 2: 119.580 High Dec 9 2022 (cont)
  • RES 1: 119.190 High Mar 15
  • PRICE: 117.950 @ 05:19 GMT Mar 17
  • SUP 1: 117.490 38.2% retracement of the Mar 6 - 15 rally
  • SUP 2: 116.965 50.0% retracement of the Mar 6 - 15 rally
  • SUP 3: 116.708 20-day EMA
  • SUP 4: 116.370 Low Mar 15 and key support

Bobl futures have pulled back from Wednesday’s high of 119.190. The outlook remains bullish following this week’s volatile price action. A continuation higher would pave the way for gains towards 119.580, the Dec 9 2022 high on the continuation chart. Further out, scope would be seen for a climb to the 120.00 handle. On the downside, key short-term support is seen at the 20-day EMA which intersects at 116.708.

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