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(H2) Trend Remains Down

BOBL TECHS
  • RES 4: 132.582 50-day EMA
  • RES 3: 132.060 High Feb 3
  • RES 2: 131.655 20-day EMA
  • RES 1: 131.360 High Feb 11
  • PRICE: 131.010 @ 05:06 GMT Feb 14
  • SUP 1: 130.080 Low Feb 10
  • SUP 2: 130.000 Psychological round number
  • SUP 3: 129.460 High Dec 7, 2015 (cont)
  • SUP 4: 129.020 Low Dec 7, 2015 (sont)

Bobl futures are trading above recent lows but remain in a clear downtrend. Continued selling pressure and fresh trend lows maintain the bearish price sequence of lower lows and lower highs. Moving averages are in a bear mode too and attention is on the psychological 130.00 handle next. Initial resistance is seen at 131.360, Feb 11 high. Short term gains would be considered corrective.

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