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(Z1) Bearish Despite Recent Corrective Gains

BOBL TECHS
  • RES 4: 135.200 Low Sep 17, high Oct 4 and recent breakout level
  • RES 3: 135.060 High Oct 7
  • RES 2: 134.860 High Oct 14 and key resistance
  • RES 1: 134.579 20-day EMA
  • PRICE: 134.270 @ 05:16 BST Oct 28
  • SUP 1: 134.070 Low Oct 27
  • SUP 2: 133.830/800 Low Oct 22 / Low Feb 26 and a key support
  • SUP 3: 133.772 1.236 proj of the Oct 4 - 13 - 14 price swing
  • SUP 4: 133.340 Low Mar 19 and key medium-term support

The Bobl futures downtrend remains intact despite recent corrective gains. Last week's sell-off confirmed a resumption of the underlying downtrend and reinforced bearish conditions. Key short-term trend resistance has been defined at 134.860, Oct 14 high and a breach of this level is required to signal scope for a short-term reversal. With momentum still pointing south, the focus is on 133.772 next, a Fibonacci projection.

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