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(Z0) Corrective Recovery Extends

BOBL TECHS
  • RES 4: 135.637 61.8% retracement of the Nov 4 - 11 sell-off
  • RES 3: 135.600 Low Nov 4
  • RES 2: 135.563 Former trendline support drawn off the Sep 1 high
  • RES 1: 135.540 High Nov 20
  • PRICE: 135.530 @ 05:09 GMT Nov 23
  • SUP 1: 135.370 Low Nov 20
  • SUP 2: 135.280 Low Nov 17
  • SUP 3: 135.170 Low Nov 16 and key near-term support
  • SUP 4: 135.000 Low Nov 11 and the bear trigger

BOBL futures sold off sharply Nov 9 and this move continues to highlight a bearish risk. The corrective recovery however off 135.000, Nov 11 low continues to extend with a fresh high print registered Friday. Price action has cleared 135.515, 50.0% of the Nov 4 - 50 sell-off and attention turns 135.563, former trendline support drawn off the Sep 1 high ahead of 135.637, the 61.8% retracement. Initial key support lies at 135.170, Nov 16 low.

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