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(H1) Bullish Focus

  • RES 4: 135.700 High Dec 11 and a key resistance
  • RES 3: 135.610 High Dec 15
  • RES 2: 135.497 76.4% retracement of the Dec 11 - Jan 12 downleg
  • RES 1: 135.480 High Jan 27
  • PRICE: 135.280 @ 05:03 GMT Feb 1
  • SUP 1: 135.160 Low Jan 29 and key intraday support
  • SUP 2: 135.120 Low Jan 25
  • SUP 3: 134.930 Low Jan 22
  • SUP 4: 134.840 Low Jan 12 and a bear trigger

BOBL futures rallied Jan 27 to confirm a clear breach of 135.350, Jan 15 high. The break reinforces a bullish theme and signals scope for a climb to 135.497 next, a Fibonacci retracement. Clearance of 135.497 would strengthen a bullish case for gains towards 135.700, the Dec 11 high. Initial support is seen at Friday's 135.160 low. A break would undermine the positive price structure and expose 134.970, Jan 22 low.

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