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(Z2) Has Cleared The 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: 122.010 High Sep 14
  • PRICE: 121.110 @ 05:14 BST Oct 5
  • SUP 1: 120.810/119.440 20-day EMA / 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 primary trend direction in Bobl futures is unchanged and remains down. However, the short-term outlook is bullish following recent strong gains and the contract has entered a corrective cycle. Price has breached the 20-day EMA and this signals scope for a continuation higher near-term. The focus is on 122.010, the Sep 14 high. Initial support is seen at Monday’s low of 119.440.

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