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(H4) Remains Vulnerable

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: 117.917/118.660 20-day EMA / High Jan 31
  • PRICE: 117400 @ 05:11 GMT Feb 8
  • SUP 1: 117.280 Low Jan 25 and 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 and the contract is trading at its recent lows. The recent move lower has exposed key support and a bear trigger at 117.280, the Jan 25 low. Clearance of this level would confirm a resumption of the bear cycle that started Dec 27. 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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