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(Z2) Bear Threat Remains Present

  • RES 4: 122.510 High Sep 12
  • RES 3: 121.950 High Oct 4 and the bull trigger
  • RES 2: 121.330 High Oct 5
  • RES 1: 120.016 20-day EMA
  • PRICE: 119.360 @ 05:19 BST Oct 14
  • SUP 1: 118.550 Low Oct 13
  • SUP 2: 118.020 Low Sep 28 and the bear trigger
  • SUP 3: 117.918 2.382 proj of the Aug 25 - Sep 1 - Sep 6 price swing
  • SUP 4: 117.630 2.50 proj of the Aug 25 - Sep 1 - Sep 6 price swing

Bobl futures are consolidating and trading closer to recent lows. A bearish outlook remains intact. The reversal from 121.950, Oct 4 high confirmed the end of the corrective cycle between Sep 28 and Oct 4. Attention is on the key support and bear trigger at 118.020, the Sep 28 low. A break of this level would confirm a resumption of the primary downtrend. 121.950 marks key resistance. The 20-day EMA, at 120.016, is the first resistance.

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