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(H2) Needle Still Points South

BOBL TECHS
  • RES 4: 132.759 50-day EMA
  • RES 3: 132.060 High Feb 3
  • RES 2: 131.921 20-day EMA
  • RES 1: 131.150 High Jan 4
  • PRICE: 130.720 @ 05:16 GMT Feb 10
  • 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 bears have paused for breath and the contract remains above recent lows. The outlook is bearish. The recent strong selling pressure confirmed a resumption of the underlying downtrend and resumed the bearish price sequence of lower lows and lower highs. Moving averages are in a bear mode too. Attention is on the psychological 130.00 handle next, the Oct 5, 2018 low (cont). The Jan 4 high of 131.150 is the first resistance.

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