Technical Forecast for BOBL

Bobl edged lower to 125.53 & below here look for 125.38/33 & a buying opportunity as we start to look oversold on the daily chart. Exit shorts & try longs with stops below 125.21 as we can then target 125.01/96.

 

We should struggle at 125.68/72 with a high for the day possible. However on a break higher look for a test of resistance up to 125.95/02 & a selling opportunity once again. We need stops above 126.10 however for a test of the 100 day moving average at 126.18/19 & last week’s high of 126.24. Stops on shorts above the 200 day moving average at 126.35.