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(H2) Corrective Bounce Extends

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: 133.451 50-day EMA
  • RES 1: 133.250 High Jan 24
  • PRICE: 133.130 @ 05:11 GMT Jan 25
  • SUP 1: 132.720 Low Jan 21
  • 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

Despite the recent bounce, trend conditions in Bobl futures remain bearish. There is potential however for a stronger recovery following the breach of 133.110 yesterday, the Jan 6 and 13 highs. This has opened the 50-day EMA at 133.451. Last week’s break of 132.620, Jan 11 low maintains the bearish price sequence of lower lows and lower highs. A resumption of weakness would refocus attention on the recent low of 132.400 on Jan 19.

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