BOBL edged lower breaking 126.84/82 to bottom just above the next target and support at 126.73/72, which was expected to hold the downside. However, if prices continue lower today look for a buying opportunity at 126.61/60, with stops below 126.54. Go with a break lower then for the next buying opportunity at 126.45/43.
If we can hold 126.73/72 the outlook is more positive for today and targets 126.84/82. If we continue higher, look for the high this week at 126.90/92. We should struggle here again; watch for a high for the day but on a break higher look for that target of 126.98/99. Just beware that on a break higher next week we could target 127.09/12 before the February highs for this year at 127.29.