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(H2) Broader Trend Condition Remains Bearish

BOBL TECHS
  • RES 4: 133.928 76.4% retracement of the Dec 20 - Jan 19 sell-off
  • RES 3: 133.636 61.8% retracement of the Dec 20 - Jan 19 sell-off
  • RES 2: 133.396 50-day EMA
  • RES 1: 133.250 High Jan 24
  • PRICE: 132.790 @ 05:10 GMT Jan 28
  • SUP 1: 132.650 Low Jan 27
  • SUP 2: 132.400 Low Jan 19 and the bear trigger
  • SUP 3: 132.350 2.50 proj of the Nov 30 - Dec 8 - 20 price swing
  • SUP 4: 132.253 2.618 proj of the Nov 30 - Dec 8 - 20 price swing

Trend conditions in Bobl futures remain bearish. The breach of 133.110 on Monday, the Jan 6 and 13 highs, however still suggests potential for a stronger short-term recovery ahead of resistance at the 50-day EMA at 133.396. For bears, the recent break of 132.620, Jan 11 low maintains a bearish price sequence of lower lows and lower highs. The trigger for a resumption of the downtrend is 132.400, Jan 19 low.

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