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(Z2) Clears The Bear Trigger

  • 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: 119.653/960 20-day EMA / High Oct 14
  • PRICE: 118.110 @ 10:11 BST Oct 20
  • SUP 1: 117.940 Intraday low
  • SUP 2: 117.918 2.382 proj of the Aug 25 - Sep 1 - Sep 6 price swing
  • SUP 3: 117.630 2.50 proj of the Aug 25 - Sep 1 - Sep 6 price swing
  • SUP 4: 117.342 2.618proj of the Aug 25 - Sep 1 - Sep 6 price swing

Bobl futures have traded lower today and in the process cleared support and the bear trigger at 118.020, the Sep 28 low. The break confirms a resumption of the primary downtrend and an extension of the price sequence of lower lows and lower highs. This paves the way for a move towards 117.630 next, a Fibonacci projection. On the upside, key short-term resistance has been defined at 119.960, the Oct 14 high.

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