Bobl: look for the market to weaken

Published 11/15/2011, 08:53 AM
Updated 07/09/2023, 06:32 AM
Bobl:

Bobl overbought on both short and medium term charts and this needs to be addressed quite quickly. We look for the market to weaken and we see it coming lower down with 123 to 122.94 the short term objective.

Here we view to cover all shorts. We re-instate shorts then below 122.90 as a break below here keeps the pressure to the downside and sees this weaken to 122.75.

We know resistance is up at 123.98. we do not expect a break above here so we would advise selling into rallies, keeping stops above the previous reaction high of 124.15..

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