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(Z0) Trades Through Support

BOBL TECHS
  • RES 4: 135.500 Round number resistance
  • RES 3: 135.410 1.000 proj of Sep 1 - Sep 9 rally from Sep 10 low
  • RES 2: 135.370 High Sep 21 and Oct 5 and the bull trigger
  • RES 1: 135.25 High Oct 6
  • PRICE: 135.080 @ 04:30 BST Oct 8
  • SUP 1: 135.030 Low Oct 6
  • 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 breaching support at 135.07, Sep 25 low. The break lower signals scope for a deeper pullback potentially towards 134.90 next Sep 11 and 17 low. The underlying trend outlook remains bullish however and a move lower is considered a correction. On the upside, initial resistance is at 135.25, Oct 6 high. A break of this level would ease the current bearish pressure.

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