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(Z0) Corrective Cycle Appears To Be Over

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: 135.810 Intraday high
  • PRICE: 135.770 @ 04:29 GMT Oct 28
  • SUP 1: 135.530 Low Oct 27
  • SUP 2: 135.470 Low Oct 23 and 26
  • SUP 3: 135.445 50.0% retracement of the Oct 7 - 20 rally
  • SUP 4: 135.370 High Sep 21 and Oct 5 and former breakout level
BOBL futures traded higher yesterday, extending the recovery off 135.470, Oct 23 and 26 low. Attention turns to key resistance at 135.860, Oct 20 high. The recovery from 135.470 marks the first signal that the corrective pullback may be over. Clearance of 135.860 would confirm a resumption of the uptrend that started early September and would open 135.907, a Fibonacci projection. The outlook is bullish while 135.470 support holds.

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