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BOBL TECHS: (H5) Trend Needle Points South

BOBL TECHS
Fixed Income Technical AnalysisBundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletMarketsFixed Income Bullets
  • RES 4: 119.813 2.382 proj of the Nov 6 - 12 - 18 price swing       
  • RES 3: 119.674 2.236 proj of the Nov 6 - 12 - 18 price swing  
  • RES 2: 119.280/119.480 High Dec 4 and 5 / High Dec 2
  • RES 1: 118.476/119.130 20-day EMA / High Dec 11                          
  • PRICE: 118.060 @ 05:45 GMT Dec 21  
  • SUP 1: 117.850 Low Dec 19             
  • SUP 2: 117.723 76.4% retracement of the Nov 6 - Dec 2 bull cycle      
  • SUP 3: 117.550 Low Nov 18    
  • SUP 4: 117.350 76.4% retracement of the Nov 6 - Dec 2 bull cycle  

The current bear cycle in Bobl futures remains in play. Price has recently cleared the 20-day EMA signalling scope for a continuation near-term. Recent weakness reinforces a bear theme. An extension would open 117.723 next, a Fibonacci retracement. The first key resistance to watch is 118.476, the 20-day EMA. A break of it would highlight a possible reversal and open 119.130, the Nov 7 low.

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  • RES 4: 119.813 2.382 proj of the Nov 6 - 12 - 18 price swing       
  • RES 3: 119.674 2.236 proj of the Nov 6 - 12 - 18 price swing  
  • RES 2: 119.280/119.480 High Dec 4 and 5 / High Dec 2
  • RES 1: 118.476/119.130 20-day EMA / High Dec 11                          
  • PRICE: 118.060 @ 05:45 GMT Dec 21  
  • SUP 1: 117.850 Low Dec 19             
  • SUP 2: 117.723 76.4% retracement of the Nov 6 - Dec 2 bull cycle      
  • SUP 3: 117.550 Low Nov 18    
  • SUP 4: 117.350 76.4% retracement of the Nov 6 - Dec 2 bull cycle  

The current bear cycle in Bobl futures remains in play. Price has recently cleared the 20-day EMA signalling scope for a continuation near-term. Recent weakness reinforces a bear theme. An extension would open 117.723 next, a Fibonacci retracement. The first key resistance to watch is 118.476, the 20-day EMA. A break of it would highlight a possible reversal and open 119.130, the Nov 7 low.