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(Z0) Stuck In A Consolidative Band

BOBL TECHS
  • RES 4: 135.563 1.236 proj of Sep 1 - Sep 9 rally from Sep 10 low
  • RES 3: 135.500 Round number resistance
  • RES 2: 135.410 1.000 proj of Sep 1 - Sep 9 rally from Sep 10 low
  • RES 1: 135.370 High Sep 21 and Oct 5 and the bull trigger
  • PRICE: 135.130 @ 04:53 BST Oct 6
  • SUP 1: 135.070 Low Sep 25
  • SUP 2: 134.900 Low Sep 11 and 17
  • SUP 3: 134.760 Low Sep 11 and key support
  • SUP 4: 134.610 Low Sep 1 and the major support

BOBL futures traded lower yesterday with the contract stuck is a consolidative band for now. Attention is on support at 135.070, Sep 25 low where a break would suggest scope for a deeper corrective pullback, and open 134.900, Sep 11 and 17 low. The underlying trend outlook remains bullish. A break of resistance at 135.370, Sep 21 and Oct 5 high is required to reinforce this outlook. A move higher would open 135.410 initially.

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