Technical forecast for BOBL

bobl1

Bobl held tough resistance at 123.04/07 to test 122.91/90 & below 122.88 today sees 122.79/77. This could hold the downside but any longs need stops below 122.70 for very good support at 122.62/61 & a buying opportunity with stops below 122.50. We then look for 122.42/40 before last week’s low at 122.34.

123.04/07 should continue to hold the topside as we start to look overbought short term. A break above 123.09 however keeps Friday’s rally going for a move towards strong resistance at 123.21/23. However if we continue higher look for 123.39 before late August highs at 123.45/47.

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