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(M1) Key Short-Term Resistance Defined

BOBL TECHS
  • RES 4: 135.700 High Dec 11 (cont)
  • RES 3: 135.580 High Feb 11
  • RES 2: 135.270 Low Feb 8
  • RES 1: 135.180 High Mar 11
  • PRICE: 134.980 @ 05:00 GMT Mar 15
  • SUP 1: 134.730 Low Mar 1
  • SUP 2: 134.660 50.0% retracement of the Feb 26 - Mar 11 high
  • SUP 3: 134.537 61.8% retracement of the Feb 26 - Mar 11 high
  • SUP 4: 134.537 76.4% retracement of the Feb 26 - Mar 11 high

Bobl futures last week defined a key short-term resistance at 135.180 on Mar 11 where a break is required to trigger stronger gains. While this resistance holds, a bearish risk remains present and fresh weakness would suggest scope for a test of 134.730, Mar 1 low and the trigger for a move towards 134.140, Feb 26 low. On the upside, a break of 135.180 would instead open 135.270.

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