BOBL: Buy The Dip At 126.60/61
Jason Sen | May 30, 2014 01:58AM ET
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.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.