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(Z3) Bull Theme Remains In Play

  • RES 4: 118.752 2.236 proj of the Sep 28 - Oct 10 - 19 price swing
  • RES 3: 118.370 2.00 proj of the Sep 28 - Oct 10 - 19 price swing
  • RES 2: 118.000 Round number resistance
  • RES 1: 117.920 High Nov 30
  • PRICE: 117.560 @ 05:35 GMT Dec 1
  • SUP 1: 117.230 High Nov 17
  • SUP 2: 116.775 20-day EMA
  • SUP 3: 116.260 Low Nov 27 and key support
  • SUP 4: 116.000 Low Nov 13

A bull cycle in Bobl futures remains in play and this week’s strong rally has reinforced this theme. The contract has cleared resistance at 117.230, the Nov 17 high, to confirm a resumption of the uptrend that started on Sep 28. The break higher paves the way for a move towards the 118.00 handle. On the downside, key support has been defined at 116.260, the Nov 27 low. A break would highlight a reversal.

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