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(H1) Cracks Support at Last Week’s Low

BOBL TECHS
  • RES 4: 154.00 Round number resistance
  • RES 3: 153.82 High Feb 12 and the bull trigger
  • RES 2: 152.89 High Dec 15
  • RES 1: 152.06 High Feb 17
  • PRICE: 149.39 @ Close Feb 25
  • SUP 1: 148.81 Low Feb 25
  • SUP 2: 148.37 Low Oct 22 and key support
  • SUP 3: 147.91 200-dma
  • SUP 4: 146.79 23.6% March - February Rally

BTP futures joined the global bond market in seeing aggressive selling pressure Thursday, hitting new 2021 lows of 148.81. This cements the fragile outlook, which began on the break of 151.19, 61.8% of the Jan 22 - Feb 12 rally. The focus shifts to 148.37 key support, the Oct 22 low. Initial resistance is at 152.06, Feb 17 high.

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