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(Z1) Consolidating In A Range

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: 135.320 High Nov 15
  • PRICE: 135.020 @ 05:13 GMT Nov 17
  • SUP 1: 134.700/320 Low Nov 11 / 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

Bobl futures continue to trade in a range. The S/T outlook remains bullish and attention is on resistance at 135.20, Sep 17 low and the Oct 4 plus Nov 5 high that has been probed. A clear break would open 135.540, Sep 21 high and confirm an extension of the rally that started Oct 29. Initial firm support lies at 134.320, Nov 3 low. A breach would sour the current positive tone and instead signal a potential resumption of the broader downtrend.

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