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BOBL TECHS: (Z4) Bullish Theme Remains Intact

BOBL TECHS
  • RES 4: 120.496 1.236 retracement proj of the Aug 5 - Sep 3 bear leg 
  • RES 3: 120.130 High Aug 5 and a key resistance   
  • RES 2: 120.000 Round number resistance      
  • RES 1: 119.810 High Sep 6                    
  • PRICE: 119.690 @ 05:34 BST Sep 10
  • SUP 1: 119.195 50.0% retracement of the Sep 3 - 6 rally       
  • SUP 2: 119.160 20-day EMA   
  • SUP 3: 119.050 61.8% retracement of the Sep 3 - 6 rally   
  • SUP 4: 118.870 76.4% retracement of the Sep 3 - 6 rally

A bullish theme in Bobl futures remains intact and Monday’s climb from its session low is a positive development, maintaining the bull cycle that began earlier this month. Key support has been defined at 118.580, the Sep 3 low. Scope is seen for a climb towards key resistance and the bull trigger at 120.130, the Aug 5 high. On the downside, clearance of 118.580 would reinstate a bearish theme. Initial firm support is 119.160, the 20-day EMA.

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