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BOBL TECHS: (H5) Corrective Cycle Still In Play

BOBL TECHS
Fixed Income Technical AnalysisBundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletMarketsFixed Income Bullets
  • RES 4: 117.700 50-day EMA        
  • RES 3: 117.490 Low Dec 30    
  • RES 2: 117.215 20-day EMA 
  • RES 1: 117.180 High Jan 22                            
  • PRICE: 116.910 @ 06:00 GMT Jan 24  
  • SUP 1: 116.650/280 Low Jan 16 / Low Jan 14 / 15 and bear trigger                
  • SUP 2: 116.210 Low Jul 12 2024 (cont) 
  • SUP 3: 115.980 Low Jul 11 ‘24 (cont)
  • SUP 4: 115.745 1.50 proj of the Oct 1 - 31 - Dec 2 ‘24 price swing     

A corrective phase in Bobl futures remains in play - for now - and the contract is holding on to the bulk of its recent gains. The Jan 15 rally highlighted a reversal and the start of the correction. An extension higher is allowing an oversold trend condition to unwind. Key short-term resistance is seen at 117.215, the 20-day EMA. On the downside, a break of 116.280, Jan 14 / 15 low, would resume the downtrend.

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  • RES 4: 117.700 50-day EMA        
  • RES 3: 117.490 Low Dec 30    
  • RES 2: 117.215 20-day EMA 
  • RES 1: 117.180 High Jan 22                            
  • PRICE: 116.910 @ 06:00 GMT Jan 24  
  • SUP 1: 116.650/280 Low Jan 16 / Low Jan 14 / 15 and bear trigger                
  • SUP 2: 116.210 Low Jul 12 2024 (cont) 
  • SUP 3: 115.980 Low Jul 11 ‘24 (cont)
  • SUP 4: 115.745 1.50 proj of the Oct 1 - 31 - Dec 2 ‘24 price swing     

A corrective phase in Bobl futures remains in play - for now - and the contract is holding on to the bulk of its recent gains. The Jan 15 rally highlighted a reversal and the start of the correction. An extension higher is allowing an oversold trend condition to unwind. Key short-term resistance is seen at 117.215, the 20-day EMA. On the downside, a break of 116.280, Jan 14 / 15 low, would resume the downtrend.