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(H1) Still Heading North

BOBL TECHS
  • RES 4: 135.825 1.500 proj of Nov 11 - 30 rally from Dec 2 low
  • RES 3: 135.758 1.382 proj of Nov 11 - 30 rally from Dec 2 low
  • RES 2: 135.675 1.236 proj of Nov 11 - 30 rally from Dec 2 low
  • RES 1: 135.600 High Dec 8 and intraday high
  • PRICE: 135.580 @ 05:03 GMT Dec 10
  • SUP 1: 135.430 Low Dec 8
  • SUP 2: 135.230 Low Dec 4
  • SUP 3: 134.970 Low Dec 2 and the bear trigger
  • SUP 4: 134.870 Low Nov 11

BOBL futures are bullish and holding onto recent gains. Monday's rally resulted in a break of resistance at 135.440, Nov 30 high. This negated the recent bearish focus and instead confirmed a resumption of the bullish leg that started Nov 11. The break higher paves the way for a climb towards 135.675 next, a Fibonacci projection. Key support has been defined at 134.970, Dec 2 low. Initial support lies at 135.430.

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