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(Z0) Looking To Test Resistance

BOBL TECHS
  • RES 4: 135.508 1.382 retrace extension of the Aug 21 - Sep 1 sell-off
  • RES 3: 135.413 1.236 retrace extension of the Aug 21 - Sep 1 sell-off
  • RES 2: 135.260 High Aug 21, high Sep 3 and last week's high
  • RES 1: 135.200 High Sep 15
  • PRICE: 135.100 @ 04:11 BST Sep 15
  • SUP 1: 134.900 Low Sep 11
  • SUP 2: 134.760 Low Sep 11
  • SUP 3: 134.610 Low Sep 1 and major support
  • SUP 4: 134.457 1.236 proj of Aug 21 - Sep 1 sell-off from Sep 9 high

BOBL futures outlook remains constructive following the recent recovery off the Sep 10 low of 134.760. Attention is on key resistance that has been defined at 135.260, a congestion zone. A clear breach of this hurdle would reinforce a bullish backdrop and open 135.413 initially, a Fibonacci extension. On the downside, weakness below 134.760 would be bearish and instead open major support that lies at 134.610, Sep 1 low.

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