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(H3) Still Looking For Gains

  • 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: 118.320/880 High Jan 25 / 19 and the bull trigger
  • PRICE: 117.990 @ 05:13 GMT Jan 26
  • SUP 1: 117.510 Low Jan 23 / 24
  • SUP 2: 117.170 Low Jan 11
  • SUP 3: 116.950 Low Jan 10
  • SUP 4: 116.740 Low Jan 6

Bobl futures remain in a S/T bear correction and the contract has recently tested support at 117.560, Jan 16 low. The primary trend remains bullish. Recent gains reinforce a positive outlook and maintain the bullish price sequence of higher highs and higher lows. A resumption of strength would open 119.086, a Fibonacci retracement. A clear break of 117.560 support would undermine the bullish theme and signal scope for a deeper pullback.

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