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(H2) Trend Needle Points South

BOBL TECHS
  • RES 4: 133.710 Low Dec 8 and recent breakout level
  • RES 3: 133.530 High Dec 29
  • RES 2: 133.281 20-day EMA
  • RES 1: 133.110/260 High Jan 6 and 13 / High Jan 3 and 4
  • PRICE: 133.010 @ 05:06 GMT Jan 14
  • SUP 1: 132.620 Low Jan 11 and the bear trigger
  • SUP 2: 132.566 2.236 proj of the Nov 30 - Dec 8 - 20 price swing
  • SUP 3: 132.447 2.382 proj of the Nov 30 - Dec 8 - 20 price swing
  • SUP 4: 132.350 2.50 proj of the Nov 30 - Dec 8 - 20 price swing

Despite this week’s gains, Bobl futures remain bearish, with a fresh low print on Tuesday reinforcing this theme. The continued sequence of lower lows and lower highs clearly highlights current bearish sentiment. Scope is seen for an extension lower with the focus on 132.566 next, a Fibonacci projection level. On the upside, firm resistance is seen at 133.530, the Dec 29 high. Initial resistance is at 133.110.

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