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(Z2) Dips Back Below 20-Day EMA

BOBL TECHS
  • RES 4: 123.730 High Sep 6 and a key resistance
  • RES 3: 123.270 High Sep 7
  • RES 2: 122.510 High Sep 12
  • RES 1: 120.810/122.010 20-day EMA / High Sep 14
  • PRICE: 120.210 @ 08:52 BST Oct 6
  • SUP 1: 119.440 Low Oct 3
  • 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

The corrective bounce is fading for Bobl futures, keeping the over-arching trend unchanged and down. Recent strong gains have largely been erased, ending the corrective bump higher. Price has returned back below the 20-day EMA, which remains short-term resistance for now. Initial support is seen at Monday’s low of 119.440. The focus for rallies is on 122.010, the Sep 14 high.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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