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(Z1) Fresh Trend Low

BOBL TECHS
  • RES 4: 135.380 High Sep 23
  • RES 4: 135.200 Low Sep 17 and recent breakout level / High Oct 4
  • RES 3: 135.060 High Oct 7
  • RES 2: 134.887 20-day EMA
  • PRICE: 134.320 @ 05:21 BST Oct 19
  • SUP 1: 134.200 Low Oct 18
  • SUP 2: 134.136 1.382 proj of the Sep 21 - 28 - Oct 4 price swing
  • SUP 3: 134.070 Low Jul 6 (cont)
  • SUP 4: 134.000 Round number support

Bobl futures started the week on a softer note and traded to a fresh trend low yesterday. This has once again confirmed a resumption of the underlying downtrend and reinforces bearish conditions. Resistance is seen at 134.887, the 20-day EMA and a breach of this level is required to signal scope for a stronger bounce towards 135.060, the Oct 7 high. For bears, the focus is on 134.136, a Fibonacci projection.

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