November 18, 2022 05:36 GMT
(Z2) Resistance At The 50-Day EMA Remains Exposed
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: 119.850 @ 05:19 GMT Nov 18
- 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 continue to trade below 120.530, the Nov 10 high. Recent gains have resulted in a test above the 50-day EMA, at 120.220 today. A clear break of this EMA would undermine the recent bearish theme and expose 121.010, the Oct 28 high and potentially 121.950 further out, the Oct 4 high. On the downside, a break of 118.260, the Nov 8 low is required to highlight a resumption of bearish activity and expose the key bear trigger at 117.630.
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