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(H3) Trend Direction Remains Up

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: 118.880 High Jan 19
  • PRICE: 118.160 @ 05:20 GMT Jan 20
  • SUP 1: 117.679 20-day EMA
  • 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. Yesterday’s pullback is considered corrective. The move higher this week marks an extension of the recent break of the 20-day EMA - signalling potential for a continuation higher near-term. Attention is on 119.086, 76.4% of the Dec 7 - Jan 2 downleg. Initial firm support lies at 117.560, Jan 16 low. A break would signal a likely reversal.

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