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(Z0) Corrective Cycle

BOBL TECHS
  • RES 4: 136.000 Round number resistance
  • RES 3: 135.907 1.764 proj of Sep 1 - Sep 9 rally from Sep 10 low
  • RES 2: 135.860 High Oct 20 and the bull trigger
  • RES 1: 135.760 High Oct 21
  • PRICE: 135.570 @ 04:56 GMT Oct 27
  • SUP 1: 135.470 Low Oct 23
  • SUP 2: 135.468 20-day EMA
  • SUP 3: 135.370 High Sep 21 and Oct 5 and former breakout level
  • SUP 4: 135.360 Low Oct 13

BOBL gains stalled last week and remain in a corrective cycle with key resistance defined at 135.860, Oct 20 high. Friday's low of 135.470 marks initial support and the recovery off this level is the first signal that the corrective pullback may be over. A break of resistance at 135.760, Oct 21 high would refocus attention on resistance at 135.860. Weakness below 135.470 would again expose 135.370, Sep 21 and Oct 5 high.

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