Technical Forecast for BOBL
Bobl continued lower towards 125.34/33 & the expected low for the day & bottomed just above at 125.38. The sharp bounce took us towards resistance up to 126.00/06 for a selling opportunity. 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.
Immediate support is 125.86/82 but below here look for 125.69/67. This could hold the downside but be ready to go with a break below 125.56 for 125.38/33 & a buying opportunity. Exit shorts & try longs with stops below 125.21 as we can then target 125.01/96.
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.