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(H0) Near-Term Outlook Remains Bearish...>

BOBL TECHS
BOBL TECHS: (H0) Near-Term Outlook Remains Bearish
*RES 4: 134.638 0.618 projection of Jan 2 - Jan 6 rally from Jan 7 low
*RES 3: 134.530 High Nov 20 and High Jan 8 plus key resistance
*RES 2: 134.201 61.8% retracement of the Jan - Jan 14 decline
*RES 1: 133.960 High Jan 15
*PRICE: 133.890 @ 04:47 GMT Jan 16
*SUP 1: 133.670 Low Jan 14
*SUP 2: 133.470 Low Jan 2 and key support
*SUP 3: 133.220 1.236 projection of Nov 20 - Jan 2 decline from Jan 8 high
*SUP 4: 133.065 1.382 projection of Nov 20 - Jan 2 decline from Jan 8 high
H0 Bobl was firmer yesterday but remains broadly unchanged and still likely to
remain soft near-term. The pullback on Jan 8 still weighs on sentiment. The
bearish significance of the sell-off was reinforced by the fact price failed to
hold and close above the 50-day EMA, an indicator used as a reliable trend
signal. The focus is on key support and the bear trigger at 133.470, Jan 2 low.
On the upside, a break of 134.530 is needed to highlight a bullish reversal.

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