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(H4) Trades Through Support

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: 118.372/640 20-day EMA / High Aug 8
  • PRICE: 117.620 @ 05:39 GMT Jan 18
  • SUP 1: 117.550 Low Jan 18
  • SUP 2: 117.510 Low Dec 4
  • SUP 3: 117.060 Low Dec 1
  • SUP 4: 117.000 Round number support

A bearish corrective cycle in Bobl futures remains intact and this week’s move lower reinforces a bear theme. Yesterday’s sell-off resulted in a break of support at 117.800, the Dec 8 low. This highlights potential for a deeper pullback, exposing 117.510, the Dec 4 low, Note that the 50-day EMA has also been cleared. Key resistance and the bull trigger is 119.830, the Dec 27 high. Initial resistance to watch is 118.640, the Aug 8 high.

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