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(Z0) Needle Still Points North

BOBL TECHS
  • RES 4: 136.213 2.236 proj of Sep 1 - Sep 9 rally from Sep 10 low
  • RES 3: 136.140 High May 5 (cont)
  • RES 2: 136.060 2.000 proj of Sep 1 - Sep 9 rally from Sep 10 low
  • RES 1: 136.030 High Nov 4 and the bull trigger
  • PRICE: 135.840 @ 05:04 GMT Nov 6
  • SUP 1: 135.750 Low Nov 5
  • SUP 2: 135.600 Low Nov 4 and a key support
  • SUP 3: 135.530 Low Oct 27
  • SUP 4: 135.470 Low Oct 23 and 26

BOBL futures rallied sharply higher off the day low Wednesday. A bullish theme remains in place following last week's gains. Price last week traded above key resistance at 135.860, Oct 20 high confirming a resumption of the underlying uptrend. Furthermore, Wednesday's rally to fresh highs also confirms a resumption of the uptrend. Scope is seen for a climb towards 136.060 next, a Fibonacci projection. Initial support is 135.600.

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