November 11, 2022 05:29 GMT
(Z2) Corrective Bounce Extends
BOBL TECHS
- RES 4: 121.950 High Oct 4 and a reversal trigger
- RES 3: 121.330 High Oct 5
- RES 2: 121.010 High Oct 28 and a bull trigger
- RES 1: 120.530 High Nov 10
- PRICE: 112.030 @ 05:13 GMT Nov 11
- SUP 1: 119.110/118.260 Low Nov 10 / 8 and key short-term support
- SUP 2: 117.630 Low Oct 21 and the bear trigger
- SUP 3: 117.342 2.618 proj of the Aug 25 - Sep 1 - Sep 6 price swing
- SUP 4: 116.986 2.764 proj of the Aug 25 - Sep 1 - Sep 6 price swing
Bobl futures rallied sharply higher Friday. This marks an extension of the recent bounce from the Nov 8 low of 118.260. A clear break of the average would undermine the recent bearish theme and expose resistance at 121.010, the Oct 28 high and potentially 121.950 further out, the Oct 4 high. On the downside, a reversal lower and a break of 118.260 is required to highlight a resumption of bearish activity.
163 words