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(Z3) Heading South

BOBL TECHS
  • RES 4: 117.230 High Sep 4
  • RES 3: 116.890 High Sep 8 and a key near-term resistance
  • RES 2: 116.511/740 20-day EMA / High Sep 14
  • RES 1: 116.210 High Sep 18
  • PRICE: 115.710 @ 05:01 BST Sep 20
  • SUP 1: 115.980 Intraday low
  • SUP 2: 115.551 1.382 proj of the Sep 8 - 13 - 14 price swing
  • SUP 3: 115.450 1.50 proj of the Sep 8 - 13 - 14 price swing
  • SUP 4: 115.618 1.382 proj of the Sep 8 - 13 - 14 price swing

Bobl futures remain in a clear downtrend and this week’s breach of 116.00, the Aug 15 low and key support, reinforces a bearish theme. The break lower has confirmed a resumption of the downtrend and signals scope for weakness towards 115.620 next, a Fibonacci projection. On the upside, firm short-term resistance has been defined at 116.740, the Sep 14 high. Clearance of this hurdle would signal a possible short-term base.

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