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BOBL TECHS: (H5) Southbound

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: 118.173 20-day EMA 
  • RES 1: 117.490/870 Low Dec 30 / High Jan 3                           
  • PRICE: 117.190 @ 10:21 GMT Jan 6  
  • SUP 1: 117.150 Intraday low              
  • SUP 2: 117.000 Round number support     
  • SUP 3: 116.700 Low Jul 26 2024 (cont)   
  • SUP 4: 116.471 76.4% of the Jun 10 - Oct 1 2024 price swing    

A bear cycle in Bobl futures remains in play and last week’s sell-off plus today’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. Attention is on key support at 117.180, the Nov 6 low. It has been pierced, a clear break would strengthen the current downtrend. Initial resistance is at 117.870, Jan 3 high. Key short-term resistance is 118.173, the 20-day EMA.

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  • RES 4: 118.640 Low Dec 6        
  • RES 3: 118.520 High Dec 13   
  • RES 2: 118.173 20-day EMA 
  • RES 1: 117.490/870 Low Dec 30 / High Jan 3                           
  • PRICE: 117.190 @ 10:21 GMT Jan 6  
  • SUP 1: 117.150 Intraday low              
  • SUP 2: 117.000 Round number support     
  • SUP 3: 116.700 Low Jul 26 2024 (cont)   
  • SUP 4: 116.471 76.4% of the Jun 10 - Oct 1 2024 price swing    

A bear cycle in Bobl futures remains in play and last week’s sell-off plus today’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. Attention is on key support at 117.180, the Nov 6 low. It has been pierced, a clear break would strengthen the current downtrend. Initial resistance is at 117.870, Jan 3 high. Key short-term resistance is 118.173, the 20-day EMA.