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(H1) Attention Is On Resistance

BOBL TECHS
  • RES 4: 135.390 High Jan 4 and key resistance
  • RES 3: 135.380 High Jan 5
  • RES 2: 135.350 High Jan 15
  • RES 1: 135.256 50-day EMA
  • PRICE: 135.180 @ 04:46 GMT Jan 21
  • SUP 1: 135.035 61.8% retracement of the Jan 12 - 15 rally
  • SUP 2: 134.930 Low Jan 13
  • SUP 3: 134.840 Low Jan 12
  • SUP 4: 134.860 1.00 proj of Dec 11 - 18 sell-off from Dec 21 high

BOBL futures rallied sharply higher between Jan 12 - 15 but have corrected lower from 135.350, the Jan 15 high. The rally last week resulted in a retracement of most of the move lower between Jan 4 - 12. With all key retracements cleared, scope is seen for an extension higher and attention is on 135.390, Jan 4 high and a key resistance. An important resistance also lies at 135.440, Dec 21 high. Support is at 135.035, a retracement level.

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