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(H2) Needle Still Points South

BOBL TECHS
  • RES 4: 132.940 50-day EMA
  • RES 3: 132.216 20-day EMA
  • RES 2: 132.060 High Feb 3
  • RES 1: 131.150 High Jan 4
  • PRICE: 130.410 @ 05:06 GMT Feb 8
  • SUP 1: 130.240 Low Feb 7
  • 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 traded lower yesterday. 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 the psychological 130.00 handle next, the Oct 5, 2018 low (cont). Friday’s high of 131.150 is the first resistance.

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