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(H3) Fresh Pullback Low

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: 117.324/118.670 50-day EMA / High Feb 2
  • RES 1: 117.460 High Feb 9
  • PRICE: 115.780 @ 15:08 GMT Feb 21
  • SUP 1: 115.720 Low Feb 21
  • SUP 2: 115.650 Low Jan 2
  • SUP 3: 115.583 2.0% Lower Bollinger Band
  • SUP 4: 115.284 1.0% 10-dma envelope

Bobl futures extended recent weakness to hit a pullback low of 115.720 on Tuesday. Key short-term support at 117.020, the Jan 30 low, has opened further losses for the contract, as well as support at 116.405, a Fibonacci retracement, giving way. Vol-bands at 115.583 is next up, ahead of the early January lows. On the upside, the resistance to watch is at 117.324, the 50-day EMA. A break above this average would ease bearish pressure.

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