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(H3) Trend Needle Points North

BOBL TECHS
  • RES 4: 119.086 76.4% retracement of the Dec 7 - Jan 2 downleg
  • RES 3: 118.610 Low Dec 12
  • RES 2: 118.427 61.8% retracement of the Dec 7 - Jan 2 downleg
  • RES 1: 118.250 High Jan 12
  • PRICE: 117.850 @ 05:10 GMT Jan 17
  • SUP 1: 117.398 20-Day EMA
  • SUP 2: 116.950/740 Low Jan 10 / 6
  • SUP 3: 116.540 Low Jan 4 and a key short-term support
  • SUP 4: 116.030 Low Jan 3

Bobl futures trend conditions remain bullish and last week’s gains reinforce the current positive outlook. Price has recently cleared the 20-day EMA signalling potential for a continuation higher near-term. Attention is on 118.427 next, 61.8% of the Dec 7 - Jan 2 downleg. Initial firm support to watch lies at 116.950, the Jan 10 low. A break of this level would signal a likely reversal.

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