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(H3) Bearish Extension

BOBL TECHS
  • RES 4: 120.150 High Dec 7 and the bull trigger
  • RES 3: 119.490 High Dec 13
  • RES 2: 119.230 High Dec 15
  • RES 1: 118.260 Low Nov 28 and a recent breakout level
  • PRICE: 117.580 @ 05:30 GMT Dec 16
  • SUP 1: 117.362 1.382 proj of the Dec 7 - 12 - 13 price swing
  • SUP 2: 117.180 1.50 proj of the Dec 7 - 12 - 13 price swing
  • SUP 3: 117.000 Round number support
  • SUP 4: 116.890 Low Nov 8 and a key support

Yesterday's sell-off in Bobl futures has strengthened the current bearish cycle and support at 118.260, the Dec 13 low, has been cleared. The break lower signals scope for an extension towards the 117.00 handle next. On the upside, initial firm resistance has been defined at 119.490, the Dec 13 high. A break of this hurdle would signal the end of the cycle lower and refocus attention on key resistance at 120.150, the Dec 6 high.

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