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(Z1) Bearish Focus

BOBL TECHS
  • RES 4: 135.660 High Sep 7 / 9
  • RES 4: 135.540 High Sep 21 and key near-term resistance
  • RES 3: 135.200 Low Sep 17 and recent breakout level
  • RES 2: 135.110 High Sep 27
  • PRICE: 134.970 @ 05:19 BST Sep 30
  • SUP 1: 134.770 Low Sep 28
  • SUP 2: 134.736 3.236 proj of the Aug 20 - 27 - 31 price swing
  • SUP 3: 134.660 Low Sep 7 and 8 (cont)
  • SUP 4: 134.548 61.8% retracement of the Jun - Sep rally

Bobl futures maintain a bearish tone following last week's resumption of its downtrend and this week's follow through. This maintains the current bearish price sequence of lower lows and lower highs that defines a downtrend and signals scope for an extension lower. The focus is on 134.736 next, a Fibonacci projection. On the upside, key short-term resistance is unchanged at 135.540, Sep 21 high. Initial resistance is at 135.110.

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