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(Z1) Bull Tone Remains Intact

BOBL TECHS
  • RES 4: 135.660 High Sep 9
  • RES 3: 135.540 High Sep 21 and a key near-term resistance
  • RES 2: 135.380 High Sep 23
  • RES 1: 135.220 High Nov 9
  • PRICE: 135.180 @ 05:25 GMT Nov 10
  • SUP 1: 134.867/320 50-day EMA / Low Nov 3
  • SUP 2: 133.900/690 Low Nov 2
  • SUP 3: 133.340 Low Mar 19 and key medium-term support (cont)
  • SUP 4: 133.308 1.764 proj of the Oct 4 - 13 - 14 price swing

The Bobl futures near-term outlook remains bullish and last week's rally means the contract has established a short-term positive tone. Attention is on resistance at 135.20, Sep 17 low, Oct 4 high plus Friday's high. It has been probed, a clear break would open 135.540, Sep 21 high. On the downside, initial firm support lies at 134.320, Nov 3 low. Note, the recent recovery is still considered corrective and the primary trend direction remains dow

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