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(H3) Short-Term Bounce Extends

BOBL TECHS
  • RES 4: 117.720 High Dec 16
  • RES 3: 117.470 High Dec 20
  • RES 2: 117.218 20-day EMA
  • RES 1: 116.730 High Dec 23
  • PRICE: 116.570 @ 13:11 GMT Jan 3
  • SUP 1: 115.640 2.50 proj of the Dec 7 - 12 - 13 price swing
  • SUP 2: 115.458 2.618 proj of the Dec 7 - 12 - 13 price swing
  • SUP 3: 115.233 2.764 proj of the Dec 7 - 12 - 13 price swing
  • SUP 4: 152.000 Round number support

Bobl futures have recovered from recent lows and the contract is firmer today. Gains are considered corrective and the trend outlook remains bearish. This follows the sell-off in December. The extension lower signals scope for 115.458 next, a Fibonacci projection. On the upside, initial resistance is seen at 116.730, the Dec 23 high. The 20-day EMA intersects at 117.218, where a break would signal scope for a stronger bounce.

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