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(Z1) Probes Key S/T Resistance

BOBL TECHS
  • RES 4: 135.200 Low Sep 17, high Oct 4 and recent breakout level
  • RES 3: 135.060 High Oct 7
  • RES 2: 134.860 High Oct 14
  • RES 1: 134.700 High Nov 3
  • PRICE: 134.490 @ 05:24 GMT Nov 3
  • SUP 1: 133.900/690 Low Nov 2
  • SUP 2: 133.340 Low Mar 19 and key medium-term support (cont)
  • SUP 3: 133.308 1.764 proj of the Oct 4 - 13 - 14 price swing
  • SUP 4: 133.100 2.00 proj of the Oct 4 - 13 - 14 price swing

Bobl futures remain closer to this week's highs. The recent bounce though is considered corrective. A bearish tone follows last week's move lower and fresh trend low prints. This maintains the price sequence of lower lows and lower highs. Key short-term trend resistance at 134.610, Oct 28 high was probed yesterday. A clear break of this hurdle is required to signal a potential short-term reversal. Key support and the bear trigger is at 133.690.

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