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(M1) Clears Support

BOBL TECHS
  • RES 4: 135.440 High Mar 29
  • RES 3: 135.350 High Apr 8 and key near-term resistance
  • RES 2: 135.180 High Apr 14
  • RES 1: 135.079 20-day EMA
  • PRICE: 134.700 @ 05:24 BST Apr 20
  • SUP 1: 134.667 61.8% retracement of the Feb 26 - Mar 25 rally
  • SUP 2: 134.446 76.4% retracement of the Feb 26 - Mar 25 rally
  • SUP 3: 134.140 Low Feb 26 and key support
  • SUP 4: 134.00 Round number support

Bobl futures traded lower yesterday. The contract has breached support at 134.780, Mar 9 low reinforcing a bearish theme and signalling scope for a deeper sell-off. The focus is on 134.667 and 134.466, Fibonacci retracements of the rally between Feb 26 - Mar 25. Further out, continued weakness would open 134.140, Feb 26 low and the key support. Initial resistance is at 135.079, the 20-day EMA.

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