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(M4) Trades Through Resistance

BOBL TECHS
  • RES 4: 118.100 High Apr 12
  • RES 2: 117.880 High Apr 15
  • RES 3: 117.620 High Apr 19
  • RES 1: 117.440 Intraday high
  • PRICE: 117.390 @ 05:20 BST May 16
  • SUP 1: 117.003 20-day EMA
  • SUP 2: 116.510 Low May 14 and a key near-term support
  • 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 yesterday and the move highlights a potential short-term reversal. The contract has traded through initial key resistance at 117.300, the May 7 high. Resistance at the 50-day EMA, at 117.418, has been pierced. A clear break of this average would strengthen the developing bullish theme and open 117.620, the Apr 19 high. Initial key support has been defined at 116.510, the May 14 low.

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