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(U3) Watching Resistance

  • RES 4: 116.860 High Jun 13
  • RES 3: 116.600 High Jul 19 and a key resistance
  • RES 2: 116.340 High Aug 8
  • RES 1: 115.920/116.260 High Aug 25 / 24
  • PRICE: 115.620 @ 05:11 BST Aug 29
  • SUP 1: 115.360/210 Low Aug 28 / 23
  • SUP 2: 114.960 Low Aug 21
  • SUP 3: 114.710 Low Aug 15
  • SUP 4: 114.550 Low Jul 6 and a key support

Bobl futures rallied last week but have retraced from recent highs. The climb resulted in a break of both the 20- and 50-day EMA values. This highlights a stronger short-term correction and a resumption of gains would signal scope for 116.340, the Aug 8 high. Moving average studies continue to highlight a dominant downtrend and suggest gains are a correction. Support to watch lies at 115.210, Aug 23 low. A break would reinstate a bearish threat.

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