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(H2) Heading South

BOBL TECHS
  • RES 4: 133.041 50-day EMA
  • RES 3: 132.400 20-day EMA
  • RES 2: 132.060 High Feb 3
  • RES 1: 131.150 High Jan 4
  • PRICE: 130.320 @ 05:17 GMT Feb 7
  • SUP 1: 130.260 Low Oct 5, 2018 (cont)
  • 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 remain bearish following last week's sharp sell-off and futures are trading lower this morning. Last week’s breach of support at 132.40, 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 130.260 next, the Oct 5, 2018 low (cont). Friday’s high of 131.150 is the first resistance.

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