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(H2) Bearish Below Moving Averages

BOBL TECHS
  • RES 4: 132.510 50-day EMA
  • RES 3: 132.060 High Feb 3
  • RES 2: 131.569 20-day EMA
  • RES 1: 131.360 High Feb 11
  • PRICE: 131.110 @ 16:27 GMT Feb 17
  • SUP 1: 130.080 Low Feb 10
  • SUP 2: 130.000 Psychological round number
  • SUP 3: 129.460 High Dec 7, 2015 (cont)
  • SUP 4: 129.020 Low Dec 7, 2015 (cont)

Bobl futures extended the recent recovery into the Thursday close, but key resistance at the 20-day EMA remained intact. Over the medium-term, prices remain in a clear downtrend and short-term gains are considered corrective. Recent selling pressure and fresh trend lows maintain the bearish price sequence of lower lows and lower highs. Moving averages are in a bear mode too and attention is on the psychological 130.00 handle next. Initial resistance is seen at 131.360, the Feb 11 high.

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