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(H2) Lower But Support Remains Intact

BOBL TECHS
  • RES 4: 135.126 1.382 pro of the Nov 11 - 22 - 23 price swing
  • RES 3: 134.978 1.236 pro of the Nov 11 - 22 - 23 price swing
  • RES 2: 134.740 1.00 pro of the Nov 11 - 22 - 23 price swing
  • RES 1: 134.400/530 High Dec 13 / High Nov 30 and the bull trigger
  • PRICE: 133.940 @ 05:11 GMT Dec 22
  • SUP 1: 133.710 Low Dec 8
  • SUP 2: 133.610 Low Nov 16
  • SUP 3: 133.410 Low Nov 11 and a key support
  • SUP 4: 133.200 Low Nov 3

Bobl futures traded lower yesterday but price remains inside its recent range. The contract is holding above the Dec 8 low of 133.710. A clear breach of this level would strengthen a bearish case and open 133.410, the Nov 11 low. For bulls, key resistance is at 134.530, the Nov 30 high. A break of this hurdle would resume bullish activity and pave the way for a climb towards 134.740. A Fibonacci projection.

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