Bobl March contract Forecast for 21st January 2013

Bobl March contract Forecast for 21st January 2013
Bobl March contract Forecast for 21st January 2013
March Bobl dipped a little further but held above the 9 month trend line support and 61.8% daily Fibonacci at 125.80/78 as hoped.

Today we have resistance at 126.34/39 but above Friday’s high of 110.42 we should reach for 110.52/53. A top here is very possible but if we break higher look for 110.64/66 next. Exit all longs and sell in to shorts with a stop above 110.72.

Support at 110.26/25 then 126.10/09. Below here risks a retest of last week’s low at 126.86/83. From here down to 126.78 is excellent support as stated above. However a break lower could test 125.63/62.

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