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(H3) Corrective Cycle Extends

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: 118.670 @ 05:12 GMT Dec 13
  • SUP 1: 118.610 Low Dec 12
  • 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

Bobl futures traded lower Monday. The trend condition remains bullish and the latest pullback is considered corrective - for now. Moving average studies have crossed, to highlight a bull mode condition. 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 to watch is at 118.260, the Nov 28 low.

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