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(Z2) Approaching Key Support

BOBL TECHS
  • RES 4: 123.160 High Sep 8
  • RES 3: 122.503 20-day EMA
  • RES 2: 121.570 High Sep 16 / 19
  • RES 1: 121.120 High Sep 20
  • PRICE: 120.300 @ 04:29 BST Sep 21
  • SUP 1: 120.170 Low Sep 20
  • SUP 2: 119.940 Low Jun 16 and key support (cont)
  • SUP 3: 119.782 1.618 proj of the Aug 25 - Sep 1 - Sep 6 price swing
  • SUP 4: 119.260 Low Aug 2011

The trend needle in Bobl futures still points south and yesterday’s move lower has reinforced bearish conditions. The break lower exposes the next key support at 119.940, the Jun 16 low (cont) and the bear trigger. A break of this level would confirm a resumption of the broader downtrend and open 119.782 initially, a Fibonacci projection. Firm resistance is seen at 122.503, the 20-day EMA.

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