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Free Access(H0) Outlook Remains Bearish *RES 4:.....>
BOBL TECHS: (H0) Outlook Remains Bearish
*RES 4: 134.510 High Nov 28 and bull trigger
*RES 3: 134.480 High Dec 4
*RES 2: 134.420 High Dec 12
*RES 1: 134.200 High Dec 18
*PRICE: 134.990 @ 05:00 GMT Dec 30
*SUP 1: 133.740 Low Dec 19 and bear trigger
*SUP 2: 133.509 1.618 projection of Nov 28 - Dec 3 decline from Dec 4 high
*SUP 3: 133.422 1.764 projection of Nov 28 - Dec 3 decline from Dec 4 high
*SUP 4: 133.280 2.000 projection of Nov 28 - Dec 3 decline from Dec 4 high
H0 Bobl is consolidating but remains bearish. On Dec 19, futures registered a
low print of 133.740, below the key support of 133.770, low Dec 13. This
confirmed a resumption of the downtrend and with bearish conditions still
intact, further weakness is likely. Scope is for a move towards 133.509 next, a
Fibonacci projection. Near-term key resistance has been defined at 134.200, Dec
18 high. A break is required to signal scope for a stronger bounce.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.