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(Z2) Testing The 50-Day EMA

  • 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: 120.700 High Nov 24
  • PRICE: 120.170 @ 05:06 GMT Nov 30
  • SUP 1: 119.390 Low Nov 28
  • SUP 2: 119.180 Low Nov 14
  • SUP 3: 118.710 Low Nov 9
  • SUP 4: 118.260 Low Nov 8 and a key support

Bobl futures have recently pierced resistance at 120.530, the Nov 10 high. The outlook is bullish, despite the latest pullback and attention is on the 50-day EMA, at 120.157. A clear breach of this average would strengthen bullish conditions and expose 121.010, the Oct 28 high and potentially 121.950 further out, the Oct 4 high. On the downside, key short-term support has been defined at 119.180, the Nov 14 low.

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