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(M4) Bearish Threat Remains Present

BOBL TECHS
  • RES 4: 119.050 High Feb 8
  • RES 2: 118.790 High Feb 15 and Mar 8 and the bull trigger
  • RES 3: 118.460 High Mar 12
  • RES 1: 117.950 High Mar 21
  • PRICE: 117.920 @ 05:39 GMT Mar 22
  • SUP 1: 117.340 Low Mar 18
  • SUP 2: 117.200 Low Feb 29 and the bear trigger
  • SUP 3: 117.000 Round number support
  • SUP 4: 116.740 High Mar 5 (cont)

Bobl futures are trading above their recent lows. A broader bearish cycle is intact and a resumption of the recent move lower would open the key support and bear trigger at 117.200, the Feb 29 low. Clearance of this level would confirm a resumption of the downtrend that started early December last year. For bulls, a reversal higher would refocus attention on resistance at 118.790, the Feb 15 / Mar 8 high. A break would resume the recent corrective phase.

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