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(H1) 20-day EMA Offers Resistance

BOBL TECHS
  • RES 4: 135.390 High Jan 4 and key resistance
  • RES 3: 135.260 High Jan 6
  • RES 2: 135.208 Trendline resistance drawn off the Dec 11 high
  • RES 1: 135.178 20-day EMA
  • PRICE: 135.110 @ 05:13 GMT Jan 14
  • SUP 1: 134.930 Low Jan 13
  • SUP 2: 134.840 Low Jan 12
  • SUP 3: 134.860 1.00 proj of Dec 11 - 18 sell-off from Dec 21 high
  • SUP 4: 134.775 76.4% retracement of the Jun - Nov 2020 rally (cont)
BOBL futures yesterday extended this week's rebound as the contract retraces the recent Jan 4 - 12 sell-off. Price has arrived at the 20-day EMA - at 135.178. A failure ahead ahead of the average and a turn lower would refocus attention on this week's 134.840 low. Clearance of the MA would instead expose 135.208, trendline resistance drawn off the Dec 11 high. A break would be bullish.

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