May 21, 2024 05:02 GMT
(M4) Support Remains Intact For Now
BOBL TECHS
- RES 4: 117.880 High Apr 15
- RES 2: 117.620 High Apr 19
- RES 3: 117.346/440 High 50-day EMA / May 16
- RES 1: 116.943 20-day EMA
- PRICE: 116.630 @ 05:45 BST May 21
- SUP 1: 116.510 Low May 14 and a key near-term support
- SUP 2: 116.430 Low MAy 2
- SUP 3: 116.230 Low Apr 30 and a bear trigger
- SUP 4: 116.135 1.50 proj of the Mar 8 - 18 - 27 price swing
Bobl futures traded sharply higher on May 15 and the move highlighted a potential short-term reversal. However, clearance of resistance at 117.440, the May 16 high, is required to strengthen a bullish theme and note this would also highlight a break of the 50-day EMA, at 117.346. The pullback from last week’s peak exposes support at 116.510, May 14 low. Clearance of this level would instead be bearish and expose key support at 116.230, Apr 30 low.
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