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(Z1) Trading At Recent Lows

BOBL TECHS
  • RES 4: 136.150 High Aug 24
  • RES 4: 136.030 High Aug 30 , 31
  • RES 3: 135.870 High Sep 3
  • RES 2: 135.660 High Sep 7 and 9 and key near-term resistance
  • PRICE: 135.370 @ 05:24 BST Sep 16
  • SUP 1: 135.340 Low Sep 14
  • SUP 2: 135.324 1.764 proj of the Aug 20 - 27 - 31 price swing
  • SUP 3: 135.230 2.00 proj of the Aug 20 - 27 - 31 price swing
  • SUP 4: 135.136 2.236 proj of the Aug 20 - 27 - 31 price swing

Bobl futures outlook remains bearish and the contract is trading at the low end of its recent range. Last week's sell-off marked an extension of the bearish sequence of lower lows and lower highs, signalling scope for a continuation lower. The focus remains on 135.324 next, a Fibonacci projection. Initial resistance is unchanged at 135.660, Sep 7 and 9 high where a break is required to ease bearish pressure.

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