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(M2) Bearish Extension

BOBL TECHS
  • RES 4: 132.370 High Mar 10
  • RES 3: 131.550 High Mar 11
  • RES 2: 130.939 20-day EMA
  • RES 1: 130.300 Low Mar 16
  • PRICE: 129.570 @ 05:15 GMT Mar 25
  • SUP 1: 129.440 Low Mar 24
  • SUP 2: 129.008 138.2% retracement of the Feb 8 - Mar 7 upleg
  • SUP 3: 128.820 Low Dec 4 2015 (cont)
  • SUP 4: 128.340 Low Sep 17 2015 (cont)

Bobl futures traded lower again Thursday marking an extension of this week’s downleg. This has again confirmed a resumption of the underlying downtrend and maintains the broader bearish price sequence of lower lows and lower highs. The break lower paves the way for a move towards 129.008 next, the 123.6% retracement of the Feb 8 - Mar 7 upleg. The 20-day EMA at 131.939 is seen as a firm resistance.

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