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(H3) Fresh Cycle Lows

BOBL TECHS
  • RES 4: 116.320 High Feb 24
  • RES 3: 116.351 20-day EMA
  • RES 2: 115.520 High Feb 28
  • RES 1: 115.220 High Mar 1
  • PRICE: 114.500 @ 05:19 GMT Mar 2
  • SUP 1: 114.460 Intraday low
  • SUP 2: 114.239 2.382 proj of the Jan 19 - Jan 30 - Feb 2 price swing
  • SUP 3: 114.020 2.50 proj of the Jan 19 - Jan 30 - Feb 2 price swing
  • SUP 4: 114.000 Round number support

Bobl futures continue to head south and hit fresh YTD lows - the downtrend remains clearly intact. This week’s break lower confirms a resumption of the current bear cycle and maintains the broader bearish price sequence of lower lows and lower highs. Moving average studies are in a bear mode position and this highlights current sentiment. Sights are on 114.239, a Fibonacci projection. Initial firm resistance to watch is 116.192, the 20-day EMA.

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