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(Z0) Clears A Key Congestion Area

BOBL TECHS
  • RES 4: 135.563 1.236 proj of Sep 1 - Sep 9 rally from Sep 10 low
  • RES 3: 135.500 Round number resistance
  • RES 2: 135.410 1.000 proj of Sep 1 - Sep 9 rally from Sep 10 low
  • RES 1: 135.370 High Sep 21
  • PRICE: 135.250 @ 05:00 BST Sep 22
  • SUP 1: 135.030 Low Sep 21
  • SUP 2: 134.900 Low Sep 11 and 17
  • SUP 3: 134.760 Low Sep 11
  • SUP 4: 134.610 Low Sep 1 and major support

BOBL futures cleared the key congestion resistance yesterday at 135.260, high Aug 21, Sep 3, 8 and 9. This confirms a resumption of the uptrend that has been in place since Sep 1 and clears the way for an extension higher. The focus is on 135.410 and 135.563, both Fibonacci projections. On the downside, key near-term support has been defined at 134.900, Sep 17 low. A break would dent the current positive tone.

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