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Technical Forecast for BOBL

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Technical Forecast for BOBL

 


Bobl topped just below resistance up to 126.00/06 & our selling opportunity. We fell back to support at 125.69/67 which was expected to hold the downside & bottomed just below at 125.63.


 


Be ready to go with a break below 125.63 for 125.38/33 & a buying opportunity. Exit shorts & try longs with stops below 125.21 as we can then target 125.01/96.


 


Resistance up to 125.95/02 for a selling opportunity once again. We need stops above 126.10 however for a test of the 100 day moving average at 126.19 & last week’s high of 126.24. Stops on shorts above the 200 day moving average at 126.35.

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Commodities Markets Trading Ideas

 

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