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(H4) Corrective Cycle Remains In Play

BOBL TECHS
  • RES 4: 119.640 High Jan 4
  • RES 3: 119.00 Round number resistance
  • RES 2: 118.590 High Jan 12 and a key short-term resistance
  • RES 1: 118.360 High Jan 16
  • PRICE: 118.080 @ 05:21 GMT Jan 31
  • SUP 1: 117.280 Low Jan 25 and the bear trigger
  • SUP 2: 117.060 Low Dec 1
  • SUP 3: 117.000 Round number support
  • SUP 4: 116.830 Low Nov 29

A bearish cycle in Bobl futures remains intact, however, recent gains signal potential for a continued correction higher near-term. The contract has traded above the 20-day EMA, at 117.978, and this has exposed resistance at 118.590, the Jan 12 high and a key short-term resistance. Clearance of this level would highlight a stronger reversal. On the downside, key support and the bear trigger is unchanged at 117.280, the Jan 25 low.

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  • RES 4: 119.640 High Jan 4
  • RES 3: 119.00 Round number resistance
  • RES 2: 118.590 High Jan 12 and a key short-term resistance
  • RES 1: 118.360 High Jan 16
  • PRICE: 118.080 @ 05:21 GMT Jan 31
  • SUP 1: 117.280 Low Jan 25 and the bear trigger
  • SUP 2: 117.060 Low Dec 1
  • SUP 3: 117.000 Round number support
  • SUP 4: 116.830 Low Nov 29

A bearish cycle in Bobl futures remains intact, however, recent gains signal potential for a continued correction higher near-term. The contract has traded above the 20-day EMA, at 117.978, and this has exposed resistance at 118.590, the Jan 12 high and a key short-term resistance. Clearance of this level would highlight a stronger reversal. On the downside, key support and the bear trigger is unchanged at 117.280, the Jan 25 low.