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(Z0) Needle Still Points North

BOBL TECHS
  • RES 4: 136.14 High May 5 (cont)
  • RES 3: 136.060 2.000 proj of Sep 1 - Sep 9 rally from Sep 10 low
  • RES 2: 136.000 Round number resistance
  • RES 1: 135.960 High Oct 29 and the bull trigger
  • PRICE: 135.900 @ 04:52 GMT Nov 2
  • SUP 1: 135.770 Low Oct 28
  • SUP 2: 135.595 20-day EMA
  • SUP 3: 135.530 Low Oct 27
  • SUP 4: 135.470 Low Oct 23 and 26

BOBL futures are firm following last week's gains that extended the recovery off 135.470, Oct 23 and 26 low. Price last week traded above key resistance at 135.860, Oct 20 high confirming a resumption of the underlying uptrend. Scope is seen for gains towards 136.00 next ahead of 136.060, a Fibonacci projection. Initial support is at 135.770, Oct 28 low. A move below this support, would expose 135.530, Oct 27 low.

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