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(H3) Southbound

BOBL TECHS
  • RES 4: 119.230 High Dec 15
  • RES 3: 118.260 Low Nov 28 and a recent breakout point
  • RES 2: 118.171 20-day EMA
  • RES 1: 117.090/720 High Dec 21 / 16
  • PRICE: 116.620 @ 05:08 GMT Dec 23
  • SUP 1: 116.430 Low Dec 22
  • SUP 2: 116.410 2.00 proj of the Dec 7 - 12 - 13 price swing
  • SUP 3: 116.047 2.236 proj of the Dec 7 - 12 - 13 price swing
  • SUP 4: 115.822 2.382 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 Thursday to extend the bear cycle and this has reinforced the bearish threat. The extension signals scope for 116.410 next, a Fibonacci projection. On the upside, initial firm resistance is seen at 118.260, the recent breakout level. The 20-day EMA intersects at 118.171.

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