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(H4) Bull Theme Remains Intact

BOBL TECHS
  • RES 4: 118.820 3.000 proj of the Sep 28 - Oct 10 - 19 price swing
  • RES 3: 118.584 2.764 proj of the Sep 28 - Oct 10 - 19 price swing
  • RES 2: 118.438 2.618 proj of the Nov 14 - 17 - 24 price swing
  • RES 1: 118.310 High Dec 4
  • PRICE: 118.0300 @ 05:07 GMT Dec 6
  • SUP 1: 117.510 Low Dec 4
  • SUP 2: 117.060 Low Dec 1
  • SUP 3: 116.650 High Nov 17 and a recent breakout level
  • SUP 4: 116.390 Low Nov 28

A bull cycle in Bobl futures remains in play and last week’s strong rally has reinforced this theme. The contract cleared 116.65 last week, the Nov 17 high, to confirm a resumption of the uptrend that started on Sep 28. The break paves the way for a move towards 118.438 next, a Fibonacci projection. Key support has been defined at 115.820, the Nov 24 low. Initial firm support lies at 117.060, the Dec 1 low.

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