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(Z3) Breaches Resistance

BOBL TECHS
  • RES 4: 117.610 High Sep 1 and a key resistance
  • RES 3: 117.230 High Sep 4
  • RES 2: 116.966 76.4% retracement of the Sep 1 - Sep 28 downleg
  • RES 1: 116.810 Intraday high
  • PRICE: 116.700 @ 05:31 GMT Nov 2
  • SUP 1: 115.952 20-day EMA
  • SUP 2: 115.480/130 Low Oct 26 / 19
  • SUP 3: 114.880 Low Sep 28 and the bear trigger
  • SUP 4: 114.710 Low Aug 15 (cont)

The broader Bobl futures trend outlook remains bearish, however, a corrective cycle is still in play and the contract has continued to appreciate this week. Key short-term resistance at 116.500, the Oct 10 high has been cleared and this signals scope for a continuation higher near-term. Scope is seen for a climb towards 116.966, the 76.4% retracement of the Sep 1 - Sep 28 bear leg. The 20-day EMA, at 115.952, is the first key support.

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