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(M1) Support Remains Exposed

BOBL TECHS
  • RES 4: 135.520 High Mar 25
  • RES 3: 135.440 High Mar 29
  • RES 2: 135.350 High Apr 8 and key near-term resistance
  • RES 1: 135.180 High Apr 14
  • PRICE: 135.050 @ 05:18 BST Apr 16
  • SUP 1: 134.830 Low Apr 15
  • SUP 2: 134.780 Low Mar 8 and 9
  • SUP 3: 134.667 61.8% retracement of the Feb 26 - Mar 25 rally
  • SUP 4: 134.446 76.4% retracement of the Feb 26 - Mar 25 rally

Bobl futures traded lower Wednesday clearing a number of near-term supports along the way. Despite yesterday's gains, a bearish outlook remains intact with attention on support at 134.780, Mar 9 low where a break would strengthen a bearish argument and suggest scope for a deeper pullback. This would open 134.667, a Fibonacci retracement. On the upside, initial resistance is at 135.180, Apr 14 high.

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