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(H3) Cracks to YTD Lows

BOBL TECHS
  • RES 4: 119.086 76.4% retracement of the Dec 7 - Jan 2 downleg
  • RES 3: 118.880 High Jan 19 and the bull trigger
  • RES 2: 117.161/118.670 50-day EMA / High Feb 2
  • RES 1: 117.460 High Feb 9
  • PRICE: 115.590 @ 15:07 GMT Feb 24
  • SUP 1: 115.440 Low Feb 24
  • SUP 2: 115.248 2.0% Lower Bollinger Band
  • SUP 3: 115.000 Handle support
  • SUP 4: 114.954 1.0% 10-dma envelope

Bobl futures extended recent weakness to hit fresh YTD lows at 115.440 on Friday. Key short-term support at 115.640, the Jan 2 low has given way, opening further losses for the contract, as well as vol band support at 115.248, the 2.0% lower Bollinger Band. On the upside, the resistance to watch is at 117.161, the 50-day EMA. A break above this average would ease bearish pressure.

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