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(U4) Rally Accelerates

BOBL TECHS
  • RES 4: 117.640 2.236 proj of the May 31 - Jun 4 - 10 price swing
  • RES 2: 117.440 High May 16 2024 (cont)
  • RES 3: 117.380 2.00 proj of the May 31 - Jun 4 - 10 price swing
  • RES 1: 117.160 Intraday high
  • PRICE: 117.080 @ 14:21 BST Jun 14
  • SUP 1: 116.340/115.846 Intraday low / 20-day EMA
  • SUP 2: 115.560 Low Jun 12
  • SUP 3: 115.180 Low Jun 10
  • SUP 4: 115.000 Round number support

Bobl futures have rallied today marking an extension and an acceleration of this week’s bull cycle. The rally has resulted in a break of resistance at 116.750, the May 16 high. This confirms a stronger bullish theme and signals scope for a continuation near-term. Sights are on 117.380 next, a Fibonacci projection. Initial firm support is at 115.846, the 20-day EMA. First support lies at 116.340, today’s intraday low.

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