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(H3) Heading South

BOBL TECHS
  • RES 4: 118.260 Low Nov 28 and a recent breakout point
  • RES 3: 117.794 20-day EMA
  • RES 2: 117.090/720 High Dec 21 / 16
  • RES 1: 116.730 High Dec 23
  • PRICE: 115.850 @ 05:55 GMT Dec 28
  • SUP 1: 115.750 Low Dec 27
  • SUP 2: 115.640 2.50 proj of the Dec 7 - 12 - 13 price swing
  • SUP 3: 115.458 2.618 proj of the Dec 7 - 12 - 13 price swing
  • SUP 4: 115.233 2.764 proj of the Dec 7 - 12 - 13 price swing

Bobl futures remain bearish following the recent sharp sell-off that resulted in a break of support at 118.260, the Dec 13 low. Price traded lower on Tuesday as the contract started the week on a softer note. The extension signals scope for 115.640 next, a Fibonacci projection. On the upside, initial firm resistance is seen at 117.090, the Dec 21 high. The 20-day EMA intersects at 117.794. Short-term gains would be considered corrective.

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