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(H1) Bearish Price Sequence Intact

BOBL TECHS
  • RES 4: 112.410 High Dec 15
  • RES 3: 112.390 High Dec 16
  • RES 2: 112.350 High Dec 21/22 and key S/T resistance
  • RES 1: 112.285 Low Dec 18 and this week's high
  • PRICE: 112.280 @ 04:55 GMT Dec 30
  • SUP 1: 112.235 Low Dec 23
  • SUP 2: 112.210 Low Sep 1 (cont)
  • SUP 3: 112.195 High Jul 31 (cont)
  • SUP 4: 112.185 50.0% retracement of the Jun - Nov rally (cont)

Schatz futures remain bearish despite the most recent recovery. The sharp sell-off on Dec 23 confirmed a resumption of the downtrend that started early November. Furthermore, the move lower has also confirmed a bearish sequence of lower lows and lower highs that defines a downtrend. Scope is seen for weakness towards 112.210, Sep 1 low (cont) and 112.185, 50.0% of the Jun - Nov rally. Key short-term resistance is at 112.350, Dec 21/22 high.

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