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(H4) Bear Leg Extends

BOBL TECHS
  • RES 4: 120.130 High Mar 24 (cont)
  • RES 3: 120.000 Psychological round number
  • RES 2: 119.640/830 High Jan 4 / High Dec 27 and the bull trigger
  • RES 1: 118.581 20-day EMA
  • PRICE: 117.990 @ 05:25 GMT Jan 11
  • SUP 1: 117.900 Low Jan 10
  • SUP 2: 117.800/85 Low Dec 8 and a key support / 50-day EMA
  • SUP 3: 117.510 Low Dec 4
  • SUP 4: 117.060 Low Dec 1

A corrective cycle in Bobl futures remains intact and yesterday’s move lower reinforces current conditions. The recent move through the 20-day EMA highlights potential for a deeper pullback, exposing support at 117.800 and the 50-day EMA at 117.785. Clearance of both support points would strengthen a bearish threat. On the upside, key resistance and the bull trigger is 119.830, Dec 27 high. A break would confirm a resumption of the uptrend.

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