May 24, 2024 05:17 GMT
(M4) Clears Key Support
BOBL TECHS
- RES 4: 117.880 High Apr 15
- RES 2: 117.620 High Apr 19
- RES 3: 117.242/440 High 50-day EMA / High May 16
- RES 1: 116.806 20-day EMA
- PRICE: 116.190 @ 05:57 BST May 24
- SUP 1: 115.990 Low May 23
- SUP 2: 116.710 Low Feb 29 (cont) and a key support
- SUP 3: 115.752 1.764 proj of the Mar 8 - 18 - 27 price swing
- SUP 4: 115.410 2.00 proj of the Mar 8 - 18 - 27 price swing
Bobl futures traded sharply lower yesterday and in the process cleared key support and the bear trigger at 116.230, the Apr 30 low. This cancels any recent developing bullish theme and instead confirms a resumption of the downtrend, paving the way for a move towards 115.710, the Feb 29 low (cont) and a key support. Initial resistance is seen at 116.806, the 20-day EMA. Key resistance and a reversal trigger is at 117.440, the May 16 high.
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