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(H1) Resistance Remains Intact

BOBL TECHS
  • RES 4: 135.675 1.236 proj of Nov 11 - 30 rally from Dec 2 low
  • RES 3: 135.540 1.00 proj of Nov 11 - 30 rally from Dec 2 low
  • RES 2: 135.440 High Nov 30 and the bull trigger
  • RES 1: 135.370 Intraday high
  • PRICE: 135.330 @ 04:48 GMT Dec 7
  • SUP 1: 135.230 Low Dec 4
  • SUP 2: 134.970 Low Dec 2 and the bear trigger
  • SUP 3: 134.870 Low Nov 11
  • SUP 4: 134.735 123.6% retracement proj of the N0v 11 - 30 rally

BOBL futures rebounded last week off 134.970, Dec 2 low. A bearish focus remains intact though while resistance at 135.440 remains intact, Nov 30 high. This follows the Nov 30 - Dec 2 sell-off. The move lower earlier last week signals the return of a bearish phase and opens 134.870, Nov 11 low. A break would confirm a resumption of the downleg in place since early November. On the upside, clearance of 135.440 reinstates a bullish theme.

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