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(H3) Trend Needle Points South

BOBL TECHS
  • RES 4: 117.720 High Dec 16
  • RES 3: 116.730 High Dec 23
  • RES 2: 117.090/218 High Dec 21 / 20-day EMA
  • RES 1: 116.730 High Dec 23
  • PRICE: 116.380 @ 05:28 GMT Jan 1
  • 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. Gains are considered corrective and the outlook remains bearish. This follows the recent sharp sell-off that resulted in a break of support at 118.260, the Dec 13 low. Price traded lower last week and the extension signals scope for 115.458 next, a Fibonacci projection. On the upside, initial firm resistance is seen at 117.090, the Dec 21 high. The 20-day EMA intersects at 117.218. Short-term gains would be considered corrective.

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