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(M4) Trend Needle Points South

BOBL TECHS


  • RES 4: 118.790 High Feb 15 and Mar 8 and a bull trigger
  • RES 2: 118.460 High Mar 12
  • RES 3: 118.100/118.310 High Apr 12 / High Mar 27
  • RES 1: 117.685 20-day EMA
  • PRICE: 117.360 @ 05:42 BST Apr 18
  • SUP 1: 117.200/020 Low Feb 29 and the bear trigger / Low Apr 17
  • SUP 2: 117.000 Round number support
  • SUP 3: 116.740 High Mar 5 (cont)
  • SUP 4: 116.518 1.236 proj of the Mar 8 - 18 - 27 price swing

A bearish threat in Bobl futures remains present and this week’s move lower reinforces current bearish conditions. Key support lies at 117.200, the Feb 29 low. It has been pierced, a clear break would confirm a continuation of the downtrend that started early December last year and open 116.740, the Mar 5 high (cont). For bulls, a break of resistance at 118.310, the Mar 27 high, would instead highlight a reversal. First resistance is 117.685, 20-day EMA.

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  • RES 4: 118.790 High Feb 15 and Mar 8 and a bull trigger
  • RES 2: 118.460 High Mar 12
  • RES 3: 118.100/118.310 High Apr 12 / High Mar 27
  • RES 1: 117.685 20-day EMA
  • PRICE: 117.360 @ 05:42 BST Apr 18
  • SUP 1: 117.200/020 Low Feb 29 and the bear trigger / Low Apr 17
  • SUP 2: 117.000 Round number support
  • SUP 3: 116.740 High Mar 5 (cont)
  • SUP 4: 116.518 1.236 proj of the Mar 8 - 18 - 27 price swing

A bearish threat in Bobl futures remains present and this week’s move lower reinforces current bearish conditions. Key support lies at 117.200, the Feb 29 low. It has been pierced, a clear break would confirm a continuation of the downtrend that started early December last year and open 116.740, the Mar 5 high (cont). For bulls, a break of resistance at 118.310, the Mar 27 high, would instead highlight a reversal. First resistance is 117.685, 20-day EMA.