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(Z0) Bullish Outlook Intact

BOBL TECHS
  • RES 4: 135.757 76.4% retracement of the May - Jun sell-off (cont)
  • RES 3: 135.735 1.500 proj of Sep 1 - Sep 9 rally from Sep 10 low
  • RES 2: 135.658 1.382 proj of Sep 1 - Sep 9 rally from Sep 10 low
  • RES 1: 135.580 High Oct 14
  • PRICE: 135.550 @ 04:41 BST Oct 15
  • SUP 1: 135.370 High Sep 21 and Oct 5
  • SUP 2: 135.241 20-day EMA
  • SUP 3: 135.030 Low Oct 6 and key trend support
  • SUP 4: 134.900 Low Sep 11 and 17

BOBL futures maintain a bullish tone. The contract rebounded on Oct 7 off 135.030. The subsequent recovery has resulted in a clear break of resistance at 135.370, Sep 21 and the Oct 5 high. This confirms a resumption of the uptrend that started early September and opens 135.658 next, a Fibonacci projection. 135.030 marks the key short-term trend support where a break is required to reverse the trend. Initial support lies at 135.370.

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