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(H2) Bears Pause For Breath

BOBL TECHS
  • RES 4: 132.841 50-day EMA
  • RES 3: 132.060 High Feb 3
  • RES 2: 132.044 20-day EMA
  • RES 1: 131.150 High Jan 4
  • PRICE: 130.510 @ 05:15 GMT Feb 9
  • SUP 1: 130.240 Low Feb 7
  • SUP 2: 130.000 Psychological round number
  • SUP 3: 129.460 High Dec 7, 2015 (cont) (cont)
  • SUP 4: 129.020 Low Dec 7, 2015 (sont)

Bobl futures bears have paused for breath. The outlook remains bearish following last week's sell-off. The recent breach of support at 132.400, Jan 19 low, confirmed a resumption of the underlying downtrend and resumed the bearish price sequence of lower lows and lower highs. Moving averages also point south. Attention is on the psychological 130.00 handle next, the Oct 5, 2018 low (cont). The Jan 4 high of 131.150 is the first resistance.

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