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(H1) Bearish Threat Still Present

BOBL TECHS
  • RES 4: 135.520 High Dec 16
  • RES 3: 135.440 High Dec 21 and key near-term resistance
  • RES 2: 135.360 High Dec 23
  • RES 1: 135.282 20-day EMA
  • PRICE: 135.200 @ 05:21 GMT Dec 30
  • SUP 1: 134.980 Low Dec 23
  • SUP 2: 134.970 Low Dec 2 and the bear trigger
  • SUP 3: 134.870 Low Nov 11
  • SUP 4: 134.723 1.236 proj of Dec 11 - 18 sell-off from Dec 21 high

BOBL futures outlook is bearish following the sharp sell-off on Dec 23. A key short-term resistance has been defined at 135.440, the Dec 21 high. The focus is on 134.970, Dec 2 low where a break would trigger further weakness and open 134.870, the Nov 11 low. On the upside, clearance of 135.360, Dec 23 high would ease the bearish threat. A break of 178.44 however is required to reinstate a bullish theme.

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