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(M3) Trading Above The 20-Day EMA

BOBL TECHS
  • RES 4: 120.130 High Mar 24
  • RES 3: 119.621 76.4% retracement of the Mar 20 - Apr 19 downleg
  • RES 2: 119.190 High Apr 6
  • RES 1: 119.120 High May 4
  • PRICE: 118.340 @ 05:16 BST May 15
  • SUP 1: 118.044 20-day EMA
  • SUP 2: 117.930 Low May 10
  • SUP 3: 117.370 Low May 2
  • SUP 4: 116.890/420 Low Apr 28 / 19 and the bear trigger

A bullish theme in Bobl futures remains intact and the recovery from last Wednesday’s low is a positive development, signalling the end of the most recent corrective pullback between May 4 - 10. Price is trading above the 20-day EMA, which intersects at 118.044. A continuation higher would open 119.190, the Apr 6 high and 119.621, a Fibonacci retracement. Initial firm support is at 117.930, the May 10 low.

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