January 19, 2023 05:33 GMT
(H3) Northbound
BOBL TECHS
- RES 4: 119.490 High Dec 13
- RES 3: 119.310 High Dec 14
- RES 2: 119.086 76.4% retracement of the Dec 7 - Jan 2 downleg
- RES 1: 118.840 Intraday high
- PRICE: 118.800 @ 05:16 GMT Jan 19
- SUP 1: 118.00 Round number support
- SUP 2: 117.560 Low Jan 16 and a key support
- SUP 3: 117.170 Low Jan 11
- SUP 4: 116.950 Low Jan 10
Bobl futures trend conditions remain bullish and this week’s gains reinforce the current positive outlook. The move higher marks an extension of the recent break of the 20-day EMA - a bullish development - signalling potential for a continuation higher near-term. Attention is on 119.086 next, 76.4% of the Dec 7 - Jan 2 downleg. Initial firm support to watch lies at 117.560, the Jan 16 low. A break of this level would signal a likely reversal.
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