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(Z1) Short-Term Outlook Remains Bullish

  • 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: 134.780 @ 05:28 GMT Nov 12
  • SUP 1: 134.673/320 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 Wednesday's pullback from recent high's. Attention remains on resistance at 135.20, Sep 17 low and the Oct 4 plus Nov 5 high. It has been probed this week, 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 instead signal a possible resumption of the broader downtrend.

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