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(Z0) Resumes Broader Uptrend

BOBL TECHS
  • RES 4: 135.730 1.500 proj of Sep 1 - Sep 9 rally from Sep 10 low
  • RES 3: 135.660 1.382 proj of Sep 1 - Sep 9 rally from Sep 10 low
  • RES 2: 135.500 High May 22 (cont)
  • RES 1: 135.420 Intraday high
  • PRICE: 135.380 @ 05:07 BST Oct 13
  • SUP 1: 135.188 20-day EMA
  • SUP 2: 135.030 Low Oct 6
  • SUP 3: 134.900 Low Sep 11 and 17
  • SUP 4: 134.760 Low Sep 11 and key support

BOBL futures rebounded on Oct 7 off 135.030. The subsequent recovery has resulted in a clear break of resistance at 135.370, Sep 21 and the Oct 5 high. This confirms a resumption of the uptrend that has dominated since early September and opens 135.41 next, a Fibonacci projection. 135.030 marks the key short-term support where a break is required to reverse the trend. Initial support lies at 135.188, the 20-day EMA.

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