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(Z0) Needle Points North

BOBL TECHS
  • RES 4: 136.060 2.000 retracement of the May - Jun sell-off (cont)
  • RES 3: 136.000 Round number resistance
  • RES 2: 135.907 1.764 proj of Sep 1 - Sep 9 rally from Sep 10 low
  • RES 1: 135.820 High Oct 15
  • PRICE: 135.690 @ 05:02 BST Oct 16
  • SUP 1: 135.510 Low Oct 15
  • SUP 2: 135.370 High Sep 21 and Oct 5 and former breakout level
  • SUP 3: 135.285 20-day EMA
  • SUP 4: 135.030 Low Oct 6 and key trend support

BOBL futures maintain a bullish tone and gains accelerated yesterday. The contract rebounded on Oct 7 off 135.030. This week's gains have resulted in a clear breach of resistance at 135.370, Sep 21 and the Oct 5 high. The break confirmed a resumption of the uptrend that started early September. The next objectives and potential resistance levels are at 135.907, a Fibonacci projection and 136.00. Initial support lies at 135.510.

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