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Technical forecast for BOBL

By () · August 5, 2013 · Comments Off on Technical forecast for BOBL
Futures · analysis, binary option, buy sell, candlestick, charts, day trade, day trading, down trend, fibonacci, forecast

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.

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