May 17, 2024 04:51 GMT
(M4) Watching 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: 117.406/440 High 50-day EMA / May 16
- PRICE: 117.040 @ 05:33 BST May 17
- SUP 1: 116.970 Intraday low
- 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 Wednesday 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 117.406, has been pierced. A clear break of this average would strengthen a 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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