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BOBL TECHS: (Z4) Monitoring Resistance At The 50-Day EMA

BOBL TECHS
Fixed Income Technical AnalysisBundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletGlobalFixed Income BulletsRegionMarkets
  • RES 4: 119.620 High Oct 18    
  • RES 3: 119.330 High Oct 24       
  • RES 2: 118.894 50-day EMA     
  • RES 1: 118.830 High Nov 12                         
  • PRICE: 118.670 @ 05:49 GMT Nov 18  
  • SUP 1: 118.150/680 Low Nov 14 / Low Oct 31 and the bear trigger           
  • SUP 2: 117.570 2.00 proj of the Oct 18 - 22 - 24   
  • SUP 3: 117.362 2.236 proj of the Oct 18 - 22 - 24    
  • SUP 4: 117.234 2.382 proj of the Oct 18 - 22 - 24    

A sharp sell-off in Bobl futures on Oct 30 reinforced the current bearish condition and the move down confirmed a resumption of the bear cycle that started Oct 1. The sell-off opens 117.570, a Fibonacci extension point. The latest recovery appears corrective - for now. The 20-day EMA has been breached and resistance to watch is at the 50-day EMA, at 118.894. A clear breach of it would alter the picture.

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  • RES 4: 119.620 High Oct 18    
  • RES 3: 119.330 High Oct 24       
  • RES 2: 118.894 50-day EMA     
  • RES 1: 118.830 High Nov 12                         
  • PRICE: 118.670 @ 05:49 GMT Nov 18  
  • SUP 1: 118.150/680 Low Nov 14 / Low Oct 31 and the bear trigger           
  • SUP 2: 117.570 2.00 proj of the Oct 18 - 22 - 24   
  • SUP 3: 117.362 2.236 proj of the Oct 18 - 22 - 24    
  • SUP 4: 117.234 2.382 proj of the Oct 18 - 22 - 24    

A sharp sell-off in Bobl futures on Oct 30 reinforced the current bearish condition and the move down confirmed a resumption of the bear cycle that started Oct 1. The sell-off opens 117.570, a Fibonacci extension point. The latest recovery appears corrective - for now. The 20-day EMA has been breached and resistance to watch is at the 50-day EMA, at 118.894. A clear breach of it would alter the picture.