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(H3) Corrective Cycle

BOBL TECHS
  • RES 4: 120.765 1.50 proj of the Nov 10 - 24 - 28 price swing
  • RES 3: 120.568 1.382 proj of the Nov 10 - 24 - 28 price swing
  • RES 2: 120.324 1.236 proj of the Nov 10 - 24 - 28 price swing
  • RES 1: 119.580/120.150 High Dec 9 / 6 and the bull trigger
  • PRICE: 119.020 @ 05:17 GMT Dec 12
  • SUP 1: 118.870 Low Dec 9
  • SUP 2: 118.690 Low Nov 30
  • SUP 3: 118.260 Low Nov 28 and key short-term support
  • SUP 4: 118.170 Low Nov 16

The Bobl futures trend condition remains bullish despite the strong pullback last week. The contract recently breached resistance at 118.870, the Nov 10 high. Moving average studies appear to be crossing to highlight a bull mode condition. If correct, this signals a stronger reversal. The print above 120.130 last week, Dec 2 high, signals a continuation of the uptrend and opens 120.324, a Fibonacci projection. Key support is at 118.260, the Nov 28 low.

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