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(H2) Resumes Its Downtrend

BOBL TECHS
  • RES 4: 132.667 50-day EMA
  • RES 3: 132.060 High Feb 3
  • RES 2: 131.778 20-day EMA
  • RES 1: 130.840 High Feb 10
  • PRICE: 130.200 @ 05:29 GMT Feb 11
  • SUP 1: 130.080 Low Feb 10
  • 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 traded to a fresh trend low yesterday to mark a resumption of the underlying downtrend. The outlook remains bearish. Continued selling pressure maintains 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. Initial resistance is seen at 130.84, Jan 10 high. Short term gains would be considered corrective.

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