TURKEY: CBRT Governor Vows to Do “Whatever It Takes” to Meet Year-End CPI Target

• 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: 106.925 @ 08:07 GMT Feb 11   
• SUP 1: 106.805 Low Jan 3               
• SUP 2: 106.772 20-day EMA
• SUP 3: 106.600/515 Low Jan 31 / 30 
• SUP 4: 106.435 Low Jan 15 and key support  

A bull cycle that began Jan 15 in Schatz futures remains in play. The contract has recently traded through a number of important resistance points and the latest impulsive gains highlight a stronger reversal. Furthermore, the recent pause appears to be a flag formation - a bullish continuation signal. The focus is on 107.081, a Fibonacci retracement point. Initial firm support to watch lies at 106.775, the 20-day EMA. First support is 106.805, the Feb 3 low.                                       

• RES 4: 118.310 High Dec 20          
• RES 3: 118.27 61.8% retracement of the Dec 2 - Jan 14 bear leg    
• RES 2: 118.100 High Jan 2   
• RES 1: 117.980 High Jan 3 / 5                              
• PRICE: 117.780 @ 08:06 GMT Feb 11  
• SUP 1: 117.583 50-day EMA                 
• SUP 2: 117.373 20-day EMA 
• SUP 3: 116.550 Low Jan 24  
• SUP 4: 116.280 Low Jan 14 / 15 and a key support       

Bobl futures remain in a bull cycle and the contract is holding on to its recent gains. Last week’s climb reinforces current bullish conditions. The contract has traded through both the 20- and 50-day EMAs. A clear breach of 117.880, 50.0% of the Dec 2 - Jan 14 bear leg, would signal scope for an extension towards 118.258, the 61.8% retracement of the Dec 2 - Jan 14 bear leg. Initial support to watch lies at 117.373, the 20-day EMA.           

• RES 4: 134.94 High Dec 17            
• RES 3: 134.54 61.8% retracement of the Dec 2 - Jan 14 bear leg
• RES 2: 134.29 High Dec 20
• RES 1: 133.73 50.0% retracement of the Dec 2 - Jan 14 bear leg                 
• PRICE: 133.24 @ 08:03 GMT Feb 11 
• SUP 1: 132.53 20-day EMA      
• SUP 2: 131.00 Low Jan 16 / 24            
• SUP 3: 131.00/130.28 Low Jan 16 / Low Jan 15 and the bear trigger
• SUP 4: 130.44 Low Jul 5 ‘24 (cont)     

Bund futures remain in a bull cycle and the contract is holding on to its latest gains. The recent pause appears to be a flag formation - a bullish continuation signal. Price has recently cleared both the 20- and 50-day EMAs. The break higher confirms a resumption of the corrective bull cycle that started Jan 14. Sights are on 133.73, a Fibonacci retracement point. Firm short-term support has been defined at 131.00, the Jan 16 / 24 low.