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(Z3) Corrective Bounce Extends

BOBL TECHS


  • RES 4: 116.567 61.8% retracement of the Sep 1 - Sep 28 downleg
  • RES 3: 116.500 High Oct 10 and the short-term bull trigger
  • RES 2: 116.150 High Oct 16
  • RES 1: 116.020 High Oct 24
  • PRICE: 115.940 @ 05:37 BST Oct 25
  • SUP 1: 115.630/130 Low Oct 24 / 19
  • SUP 2: 114.880 Low Sep 28 and the bear trigger
  • SUP 3: 114.710 Low Aug 15 (cont)
  • SUP 4: 114.414 0.764 proj of the Sep 1 - 28 - Oct 12 price swing

Recent gains in Bobl futures appear to be a correction. Last week’s sell-off undermines the recent bullish theme and a resumption of weakness would signal scope for a move towards key support and the bear trigger at 114.880, the Sep 28 low. Clearance of this level would resume the downtrend. Key short-term resistance and a bull trigger has been defined at 116.500, the Oct 10 high.

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