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(Z0) Congestion Zone At 135.260

BOBL TECHS
  • RES 4: 135.585 1.500 retrace extension of the Aug 21 - Sep 1 sell-off
  • RES 3: 135.508 1.382 retrace extension of the Aug 21 - Sep 1 sell-off
  • RES 2: 135.413 1.236 retrace extension of the Aug 21 - Sep 1 sell-off
  • RES 1: 135.260 High Aug 21, high Sep 3 and this week's high
  • PRICE: 135.020 @ 04:47 BST Sep 10
  • SUP 1: 134.960 Low Sep 7 and key near-term support
  • SUP 2: 134.900 Low Sep 2
  • SUP 3: 134.858 61.8% retracement of the Sep 1 - 3 rally
  • SUP 4: 134.610 Low Sep 1 and major support
BOBL futures traded lower yesterday reversing what had appeared to be a resumption of its uptrend. Despite the pullback, price remains above key support at 134.960, Sep 7 low and a positive outlook remains intact. Attention is on a congestion zone at 135.260, the high on Aug 21, Sep 3 and this week. A clear breach of this hurdle would reinforce the bullish backdrop and open 135.413 initially, a Fibonacci extension. Sub 134.960 levels would be bearish.

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