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Resumes Uptrend

BOBL TECHS
  • RES 4: 136.060 2.000 proj of Sep 1 - Sep 9 rally from Sep 10 low
  • RES 3: 136.000 Round number resistance
  • RES 2: 135.907 1.764 proj of Sep 1 - Sep 9 rally from Sep 10 low
  • RES 1: 135.900 High Oct 28
  • PRICE: 135.810 @ 04:39 GMT Oct 29
  • SUP 1: 135.770 Low Oct 28
  • SUP 2: 135.530 Low Oct 27
  • SUP 3: 135.470 Low Oct 23 and 26
  • SUP 4: 135.318 50-day EMA

BOBL futures traded higher again yesterday, extending the recovery off 135.470, Oct 23 and 26 low. Price also traded above key resistance at 135.860, Oct 20 high confirming a resumption of the underlying uptrend. Scope is seen for gains towards 135.907 next, a Fibonacci projection ahead of 136.00. Initial support is 135.770, yesterday's low. A deeper pullback if seen would expose 135.530, Oct 27 low.

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