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(Z1) Corrective Pullback
- 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: 135.280 High Nov 10
- PRICE: 134.760 @ 05:20 GMT Nov 11
- SUP 1: 134.664/320 20-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 despite yesterday's pullback from a fresh short-term trend high. Attention remains on resistance at 135.20, Sep 17 low, the 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. A break would sour the recent positive tone and signal a possible resumption of the broader downtrend.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.