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(H4) Bearish Trend Condition

BOBL TECHS
  • RES 4: 119.228 76.4% retracement of the Dec 27 - Jan 25 bear leg
  • RES 3: 119.000 Round number resistance
  • RES 2: 118.856 61.8% retracement of the Dec 27 - Jan 25 bear leg
  • RES 1: 117.760/118.660 20-day EMA / High Jan 31
  • PRICE: 117.050 @ 08:16 GMT Feb 12
  • SUP 1: 116.830 Low Nov 29
  • SUP 2: 116.390 Low Nov 28
  • SUP 3: 116.110 1.00 proj of the Dec 27 - Jan 25 - Feb 1 price swing
  • SUP 4: 115.820 Low Nov 24

A bearish cycle in Bobl futures remains intact and last week’s bearish extension reinforces current conditions. The move lower resulted in a breach of key support and a bear trigger at 117.280, the Jan 25 low. The clear break confirms a resumption of the bear cycle that started Dec 27 and opens 116.830, the Nov 29 low. On the upside, key short-term resistance has been defined at 118.660, the Jan 31 high. A break would be a bullish development.

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