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(Z1) Path Of Least Resistance Remains Down

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: 134.770 Low Sep 28 and a recent breakout level
  • PRICE: 134.450 @ 05:15 BST Oct 14
  • SUP 1: 134.320 Low Oct 13
  • SUP 2: 134.285 76.4% retracement of the Jun - Sep rally
  • SUP 3: 134.136 1.382 proj of the Sep 21 - 28 - Oct 4 price swing
  • SUP 4: 134.070 Low Jul 6 (cont)

Bobl futures recovered yesterday. The outlook remains bearish. The continued move lower maintains the current bearish price sequence of lower lows and lower highs that defines a downtrend and signals scope for further weakness. The focus is on 134.248 next, a Fibonacci projection. On the upside, key short-term resistance has been defined at 135.060. Initial resistance is at 134.770.

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