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(M1) Bearish Focus

BOBL TECHS
  • RES 4: 135.700 High Dec 11 (cont)
  • RES 3: 135.580 High Feb 11
  • RES 2: 135.270 Low Feb 8
  • RES 1: 135.140 High Mar 2 and 3
  • PRICE: 134.920 @ 04:51 GMT Mar 8
  • SUP 1: 134.730 Low Mar 1
  • SUP 2: 134.522 61.8% retracement of the Feb 26 - Mar 3 high
  • SUP 3: 134.376 76.4% retracement of the Feb 26 - Mar 3 high
  • SUP 4: 134.140 Low Feb 26 and the bear trigger

Bobl futures maintain a bearish theme and recent gains are still considered a correction. This has allowed an oversold condition to unwind. The contract is trading below recent highs and resistance has been defined at 135.140, Mar 2 and 3 high. While this resistance remains intact, attention is on a resumption of weakness that would open 134.140, Feb 26 low and the bear trigger. A break of 135.140 would instead allow for a stronger recovery.

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