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(H1) Pressuring Key Support

BOBL TECHS
  • RES 4: 135.520 High Dec 16
  • RES 3: 135.440 High Dec 21 and key near-term resistance
  • RES 2: 135.390 High Jan 4
  • RES 1: 135.260 High Jan 6
  • PRICE: 135.000 @ 05:06 GMT Jan 12
  • SUP 1: 134.980/970 Low Dec 23 / Low Dec 2 and the bear trigger
  • SUP 2: 134.860 1.00 proj of Dec 11 - 18 sell-off from Dec 21 high
  • SUP 3: 134.723 1.236 proj of Dec 11 - 18 sell-off from Dec 21 high
  • SUP 4: 134.638 1.382 proj of Dec 11 - 18 sell-off from Dec 21 high

BOBL futures remain bearish. Price action last week defined a short-term key resistance at 135.390, Jan 4 high. Following the failure at this level, attention once again is on support at 134.980/970, the Dec 23 and Dec 2 lows - 134.98 has today been tested. A clear break of this support zone would highlight a stronger bearish outlook and signal scope for a deeper pullback, and open 134.86, a Fibonacci projection. Resistance is at 135.26, Jan 6 high.

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