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(M3) Watching Support

BOBL TECHS
  • RES 4: 120.00 Round number resistance
  • RES 3: 119.540 High Mar 21
  • RES 2: 118.955 50.0% retracement of the Mar 20 - 22 sell-off
  • RES 1: 118.564 38.2% retracement of the Mar 20 - 22 sell-off
  • PRICE: 118.300 @ 05:31 GMT Mar 23
  • SUP 1: 117.296 20-day EMA
  • SUP 2: 116.982 61.8% retracement of the Mar 6 - 20 rally
  • SUP 3: 116.370 Low Mar 15
  • SUP 4: 116.125 76.4% retracement of the Mar 6 - 20 rally

Bobl futures traded lower Wednesday before finding support. The next key pivot support lies at the 20-day EMA that intersects at 117.296 A clear break of the EMA is required to signal scope for a deeper pullback. This would expose 116.982, a Fibonacci retracement. On the upside, a resumption of gains would refocus attention on 120.610, the Mar 21 high and bull trigger. Initial firm resistance is seen at 118.955, a Fibonacci retracement.

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