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(H3) Key Resistance Still Intact

  • RES 4: 119.230 High Dec 15
  • RES 3: 119.086 76.4% retracement of the Dec 7 - Jan 2 downleg
  • RES 2: 118.880 High Jan 19 and the bull trigger
  • RES 1: 117.797/118.670 50-day EMA / High Feb 2
  • PRICE: 117.620 @ 05:14 GMT Feb 14
  • SUP 1: 117.280/117.020 Low Feb 6 / Low Jan 30 and a key support
  • SUP 2: 116.878 61.8% retracement of the Jan 2 - 19 bull run
  • SUP 3: 116.730 Low Jan 5
  • SUP 4: 116.405 76.4% retracement of the Jan 2 - 19 bull run

Bobl futures rallied sharply higher on Feb 2, however, price has since pulled back. Key short-term support to watch lies at 117.020, the Jan 30 low. A return below this price point would represent a bearish development and signal scope for a deeper short-term pullback. The key resistance zone to watch is at 118.670-880, the Feb 2 and Jan 19 highs respectively. A breach of this zone would confirm a resumption of the bull cycle that started Jan 2.

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