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(H3) Bearish Extension

BOBL TECHS
  • RES 4: 117.100 50-day EMA
  • RES 3: 116.760 Low Feb 8
  • RES 2: 116.475 20-day EMA
  • RES 1: 115.850 High Feb 27
  • PRICE: 115.460 @ 04:45 GMT Feb 28
  • SUP 1: 115.390 Low Feb 27
  • SUP 2: 115.100 2.0% Lower Bollinger Band
  • SUP 3: 115.000 Handle support
  • SUP 4: 114.843 1.0% 10-dma envelope

Bobl futures extended recent weakness on Monday to hit fresh YTD lows at 115.390. The break lower confirms a resumption of the current bear cycle and maintains the bearish price sequence of lower lows and lower highs. Note too that the breach of 115.640, the Jan 2 low, also reinforces current bearish conditions. The focus is on the 155.000 handle. Initial resistance to watch is at 116.475, the 20-day EMA.

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