Technical forecast for BOBL

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.

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. www.daytradeideas.com has established itself as the leading provider of... More