December 21, 2022 05:44 GMT
(H3) Downtrend Extends
BOBL TECHS
- RES 4: 119.230 High Dec 15
- RES 3: 118.484 20-day EMA
- RES 2: 118.260 Low Nov 28 and a recent breakout point
- RES 1: 117.720 High Dec 16
- PRICE: 116.920 @ 05:24 GMT Dec 21
- SUP 1: 116.830 Intraday low
- SUP 2: 116.773 1.764 proj of the Dec 7 - 12 - 13 price swing
- SUP 3: 116.410 2.00 proj of the Dec 7 - 12 - 13 price swing
- SUP 4: 116.047 2.236 proj of the Dec 7 - 12 - 13 price swing
The sell-off late last week in Bobl futures strengthened the current bearish cycle and support at 118.260, the Dec 13 low, has been cleared. This week’s move lower has reinforced the bearish threat. The extension signals scope for 116.773 next, a Fibonacci projection. On the upside, initial firm resistance is seen at 118.260, the recent breakout level. The 20-day EMA intersects at 118.484.
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