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(H4) Trend Needle Points North

BOBL TECHS
  • RES 4: 119.438 3.618 proj of the Sep 28 - Oct 10 - 19 price swing
  • RES 3: 119.320 3.50 proj of the Sep 28 - Oct 10 - 19 price swing
  • RES 2: 119.202 3.382 proj of the Nov 14 - 17 - 24 price swing
  • RES 1: 119.160 High Dec 14
  • PRICE: 119.110 @ 05:40 GMT Dec 20
  • SUP 1: 118.330 Low Dec 15
  • SUP 2: 117.852 20-day EMA
  • SUP 3: 117.800 Low Dec 8 and a key support
  • SUP 4: 117.725 20-day EMA

A bull cycle in Bobl futures remains in play and the contract is holding on to its recent gains. Short-term resistance at 118.480 has recently been cleared, the Dec 7 high, resuming the uptrend. This maintains the bullish price sequence of higher highs and higher lows and opens the 119.202 next, a Fibonacci projection. On the downside, key short-term support has been defined at 117.800, the Dec 8 low. A pullback would be considered corrective.

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