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(H1) Clears Key Support

BOBL TECHS
  • RES 4: 135.390 High Jan 4
  • RES 3: 135.260 High Jan 6
  • RES 2: 135.187 20-day EMA
  • RES 1: 135.020 High Jan 12
  • PRICE: 134.960 @ 04:35 GMT Jan 13
  • SUP 1: 134.840 Low Jan 12
  • SUP 2: 134.860 1.00 proj of Dec 11 - 18 sell-off from Dec 21 high
  • SUP 3: 134.775 76.4% retracement of the Jun - Nov 2020 rally (cont)
  • SUP 4: 134.723 1.236 proj of Dec 11 - 18 sell-off from Dec 21 high

BOBL futures remain bearish. The contract traded lower yesterday and importantly, cleared support at 134.980/970, Dec 23 and Dec 2 lows respectively and the bear trigger. The break lower reinforces underlying bearish conditions setting the scene for a deeper sell-off. Potential is seen for a move towards 134.775 next, 76.4% retracement of the Jun - Nov 2020 rally (cont). 135.020 is initial resistance.

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