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(H2) Heading South

BOBL TECHS
  • RES 4: 133.530 High Dec 29
  • RES 3: 133.260 High Jan 3 and 4
  • RES 2: 133.110 High Jan 6 and 13 and key resistance
  • RES 1: 132.730/133.070 High Jan 17 / 20-day EMA
  • PRICE: 132.520 @ 08:12 GMT Jan 20
  • SUP 1: 132.400 Low Jan 19
  • SUP 2: 132.350 2.50 proj of the Nov 30 - Dec 8 - 20 price swing
  • SUP 3: 132.253 2.618 proj of the Nov 30 - Dec 8 - 20 price swing
  • SUP 4: 132.230 Low Mar 19, 2019 (cont)

Bobl futures remain bearish and the contract traded lower again yesterday. Price has breached former support at 132.620, Jan 11 low and a bear trigger. This has confirmed a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. The move lower opens 132.350 next, a Fibonacci projection level. On the upside, firm resistance is seen at 133.110, Jan 6 and 13 high.

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