Technical forecast for BOBL

bobl2

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.

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