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(Z0) Trading Below Key Resistance

BOBL TECHS
  • RES 4: 135.508 1.382 retrace extension of the Aug 21 - Sep 1 sell-off
  • RES 3: 135.413 1.236 retrace extension of the Aug 21 - Sep 1 sell-off
  • RES 2: 135.260 High Aug 21, high Sep 3 and this week's high
  • RES 1: 135.070 High Sep 10
  • PRICE: 134.960 @ 04:42 BST Sep 11
  • SUP 1: 134.760 Low Sep 11
  • SUP 2: 134.610 Low Sep 1 and major support
  • SUP 3: 134.457 1.236 proj of Aug 21 - Sep 1 sell-off from Sep 9 high
  • SUP 4: 134.362 1.382 proj of Aug 21 - Sep 1 sell-off from Sep 9 high

BOBL futures traded lower again yesterday reversing what had appeared to be a resumption of its uptrend. The sell-off yesterday resulted in a break of support at 134.960, Sep 7 low, although the contract has gapped higher at today's open. Key resistance has been defined at 135.260, a congestive zone. A clear breach of this hurdle would reinforce a bullish backdrop and open 135.413 initially, a Fibonacci extension. Major support lies at 134.610.

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