BOBL: Bull Trend Intact
Jason Sen | May 26, 2014 12:26AM ET
BOBL spent last week consolidating 2 months of gains as we became overbought, but the outlook remains quite positive with the bull trend intact. Immediate resistance at 126.56/57 then strong resistance at 126.64 could hold the move. But if we continue higher, look for the May highs at 126.73. A break higher is obviously positive and can target 126.84.
Below 126.55 meets good support at 126.47 but below here adds pressure for a retest of last week's low of 126.38/37. If we continue lower today, look for a buying opportunity at 126.31/30, with stops below 126.23.
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