Bobl - Another move higher imminent

Published 11/01/2011, 06:17 AM
Updated 07/09/2023, 06:32 AM
GUID
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Bobl:

Bobl held 121.60 and came sharply higher to trendline resistance at 122.94. This morning at some stage we should see a retracement of last nights move. However the bull trend is still with is, and the MACD indicators has just turned bullish to show there is another move higher imminent.

We look to 122.38/36 to hold any downside moves this morning and here is where we would be buying this market looking for it to trade higher once more.. Keep stops on longs below 122.05.

Now if we do not retrace and break the 123 barrier we should be able to come higher with 123.82/83 then the objective which would leave a double top in place..

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