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(H4) Bear Cycle Remains In Play

BOBL TECHS
  • RES 4: 117.730 High Feb 7
  • RES 3: 117.240 High Feb 15
  • RES 2: 117.164 50-day EMA
  • RES 1: 116.691 20-day EMA
  • PRICE: 116.250 @ 05:48 GMT Mar 4
  • SUP 1: 115.710 Low Feb 29
  • SUP 2: 115.508 1.236 proj of the Dec 27 - Jan 25 - Feb 1 price swing
  • SUP 3: 115.480 Low Oct 26 (cont)
  • SUP 4: 115.136 1.382 proj of the Dec 27 - Jan 25 - Feb 1 price swing

A bearish cycle in Bobl futures remains in play and last week’s fresh cycle low reinforces current conditions. The move down confirms once again a resumption of the downtrend that started Dec 27. Sights are on 115.508, a Fibonacci projection. On the upside, initial firm resistance is seen at 116.691, the 20-day EMA, ahead of 117.164, the 50-day EMA. Short-term gains would be considered part of a corrective bounce.

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