SCHATZ TECHS: (H5) Bull Cycle Still In Play
- RES 4: 107.233 76.4% retracement of the Dec 2 - Jan 15 bear leg
- RES 3: 107.170 High Dec 20
- RES 2: 107.081 61.8% retracement of the Dec 2 - Jan 15 bear leg
- RES 1: 107.045 High Jan 3
- PRICE: 106.930 @ 05:38 GMT Feb 5
- SUP 1: 106.805 Low Jan 3
- SUP 2: 106.703 20-day EMA
- SUP 3: 106.515 Low Jan 30
- SUP 4: 106.435 Low Jan 15 and key support
Schatz futures traded sharply higher Monday, marking an extension of the bull cycle that began Jan 15. The contract has traded through a number of important resistance points and the latest impulsive gains highlight a stronger reversal. The focus is on 107.081, a Fibonacci retracement point. On the downside, initial firm support to watch lies at 106.724, the 20-day EMA. First support is 106.805, Monday’s intraday low.
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LOOK AHEAD: UK Timeline of Key Events (GMT Times)
| Date | UK | Period | Event |
| 06-Jan | 0930 | Dec | S&P Global/ CIPS UK Final Composite/Services PMI |
| 07-Jan | 0001 | Dec | BRC-KPMG Shop Sales Monitor |
| 07-Jan | 0930 | Dec | S&P Global/CIPS Construction PMI |
| 08-Jan | 1005 | BOE's Woods Financial Services Regulation hearing | |
| 09-Jan | 0001 | KPMG/REC Jobs Report | |
| 09-Jan | 0001 | Dec | BRC Monthly Shop Price Index |
| 09-Jan | 0930 | Dec | Decision Maker Panel data |
| 09-Jan | 1600 | BOE's Breeden Speech at University of Edinburgh | |
| 14-Jan | 0830 | BOE's Breeden speech on Financial Stability | |
| 15-Jan | 0700 | Dec | Consumer inflation report |
| 15-Jan | 0700 | Dec | Producer Prices |
| 15-Jan | 1630 | BOE's Taylor Speech on Inflation Dynamics and Outlook | |
| 16-Jan | 0700 | Nov | GDP / Trade/ Services/ Production / Construction |
| 17-Jan | 0700 | Dec | Retail Sales |
| 21-Jan | 0700 | Nov/Dec | Labour Market Survey |
| 22-Jan | 0001 | Jan | Brightmine pay deals for whole economy |
| 22-Jan | 0700 | Dec | Public Sector Finances |
BOBL TECHS: (H5) Southbound
- RES 4: 118.640 Low Dec 6
- RES 3: 118.520 High Dec 13
- RES 2: 118.173 20-day EMA
- RES 1: 117.870 High Jan 3
- PRICE: 117.250 @ 06:04 GMT Jan 6
- SUP 1: 117.190 Intraday low
- SUP 2: 117.180 Low Nov 6 and key support
- SUP 3: 117.000 Round number support
- SUP 4: 116.700 Low Jul 26 2024 (cont)
A bear cycle in Bobl futures remains in play and last week’s sell-off 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. Clearance of this level would strengthen the current downtrend. Initial resistance is at 117.870, the Jan 3 high. Key short-term resistance is seen at 118.173, the 20-day EMA.
LOOK AHEAD: Eurozone Timeline of Key Events (GMT Times)
| Date | Time | Country | Event |
| 06-Jan | 815 | ES | S&P Global Services/Composite PMI (f) |
| 06-Jan | 845 | IT | S&P Global Services/Composite PMI (f) |
| 06-Jan | 850 | FR | S&P Global Services/Composite PMI (f) |
| 06-Jan | 855 | DE | S&P Global Services/Composite PMI (f) |
| 06-Jan | 900 | EU | S&P Global Services/Composite PMI (f) |
| 06-Jan | 1300 | DE | HICP (p) |
| 07-Jan | 745 | FR | HICP (p) |
| 07-Jan | 830 | EU | S&P Global Final Eurozone Construction PMI |
| 07-Jan | 900 | EU | ECB Consumer Expectations Survey |
| 07-Jan | 900 | DE | Bavaria CPI |
| 07-Jan | 1000 | EU | HICP (p) / Unemployment |
| 07-Jan | 1000 | IT | HICP (p) |
| 08-Jan | 700 | DE | Manufacturing Orders/ Retail Sales |
| 08-Jan | 745 | FR | Consumer Sentiment / Foreign Trade |
| 08-Jan | 1000 | EU | EZ Economic Sentiment Indicator |
| 08-Jan | 1000 | EU | Consumer Confidence, Industrial Sentiment |
| 08-Jan | 1000 | EU | PPI |
