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BOBL TECHS: (H5) Downtrend Remains Intact

BOBL TECHS
Fixed Income Technical AnalysisBundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletMarketsFixed Income Bullets
  • RES 4: 118.640 Low Dec 6        
  • RES 3: 118.520 High Dec 13   
  • RES 2: 117.900 20-day EMA 
  • RES 1: 117.490/870 Low Dec 30 / High Jan 3                           
  • PRICE: 117.080 @ 06:05 GMT Jan 9  
  • SUP 1: 116.910 Low Jan 87              
  • SUP 2: 116.700 Low Jul 26 2024 (cont)    
  • SUP 3: 116.471 76.4% of the Jun 10 - Oct 1 2024 price swing  
  • SUP 4: 116.320 Low Jul 22 2024 (cont)     

A bear cycle in Bobl futures remains intact and this week’s extension, reinforces the bearish set-up. Price has recently traded through 117.723, the 76.4% retracement of the Nov 6 - Dec 2 bull cycle. Note too that key support at 117.180, the Nov 6 low, has been cleared. A clear break strengthens the current downtrend and opens the 116.700, the Jul 26 2024 low (cont). Key short-term resistance is 117.900, the 20-day EMA.

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  • RES 4: 118.640 Low Dec 6        
  • RES 3: 118.520 High Dec 13   
  • RES 2: 117.900 20-day EMA 
  • RES 1: 117.490/870 Low Dec 30 / High Jan 3                           
  • PRICE: 117.080 @ 06:05 GMT Jan 9  
  • SUP 1: 116.910 Low Jan 87              
  • SUP 2: 116.700 Low Jul 26 2024 (cont)    
  • SUP 3: 116.471 76.4% of the Jun 10 - Oct 1 2024 price swing  
  • SUP 4: 116.320 Low Jul 22 2024 (cont)     

A bear cycle in Bobl futures remains intact and this week’s extension, reinforces the bearish set-up. Price has recently traded through 117.723, the 76.4% retracement of the Nov 6 - Dec 2 bull cycle. Note too that key support at 117.180, the Nov 6 low, has been cleared. A clear break strengthens the current downtrend and opens the 116.700, the Jul 26 2024 low (cont). Key short-term resistance is 117.900, the 20-day EMA.