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(H2) Outlook Remains Bearish

BOBL TECHS
  • RES 4: 133.710 Low Dec 8 and recent breakout level
  • RES 3: 133.619 20-day EMA
  • RES 2: 133.530 High Dec 29
  • RES 1: 133.260 High Jan 3 and 4
  • PRICE: 133.010 @ 05:20 GMT Jan 6
  • SUP 1: 133.00 Low Jan 3
  • SUP 2: 132.954 1.764 proj of the Nov 30 - Dec 8 - 20 price swing
  • SUP 3: 132.760 2.00 proj of the Nov 30 - Dec 8 - 20 price swing
  • SUP 4: 132.566 2.236 proj of the Nov 30 - Dec 8 - 20 price swing

Bobl futures remain bearish and the recent shallow correction reinforces this theme. The break on Dec 23 of support at 133.710, Dec 8 low confirmed a resumption of bearish activity and bears haven’t looked back. Scope is seen for an extension lower with the focus on 132.954 and 132.760 next, Fibonacci projection levels. On the upside, initial firm resistance is seen at 133.530, the Dec 29 high. A break would ease bearish pressure.

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