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(Z2) Rally Extends

BOBL TECHS
  • RES 4: 123.160 High Sep 8
  • RES 3: 122.510 High Sep 12
  • RES 2: 121.950 High Oct 4 and the bull trigger
  • RES 1: 121.330 High Oct 5
  • PRICE: 120.890 @ 05:32 BST Oct 28
  • SUP 1: 119.0980 Low Oct 27
  • SUP 2: 118.430 Low Oct 24
  • SUP 3: 117.630 2.50 proj of the Aug 25 - Sep 1 - Sep 6 price swing
  • SUP 4: 117.342 2.618 proj of the Aug 25 - Sep 1 - Sep 6 price swing

Bobl futures maintain a short-term bullish tone and a corrective cycle remains in play. Yesterday’s gains reinforces this condition. The contract has breached the 20-day EMA and key short-term resistance at 119.960, the Oct 14 high. Clearance of this latter level strengthens bullish conditions and opens 121.330, the Oct 5 high, ahead of 121.950, the Oct 4 high and a bull trigger. Initial support is seen at yesterday’s low of 119.090.

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