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(H2) Through Key Support

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: 133.320 @ 07:39 GMT Dec 30
  • SUP 1: 133.250 Low Dec 29
  • SUP 2: 133.200 Low Nov 3
  • SUP 3: 133.150 Low Nov 02
  • SUP 4: 133.078 76.4% Fib Retracement for Nov - Dec Upleg

Bobl futures traded lower into the Wednesday close, putting prices at new monthly lows ahead of the new year. Support layered between 133.410 - 610 gave way, putting prices on a soft footing and opening markets for further losses. Support at 133.078 takes focus going forward, marking the 76.4% retracement for the November-December upleg. For bulls, key resistance is at 134.530, the Nov 30 high. A break of this hurdle is required to resume bullish activity and pave the way for a climb towards 134.740, a Fibonacci projection.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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