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(Z3) Holding On To Its Recent Gains

BOBL TECHS
  • RES 4: 117.610 High Sep 1 and a key resistance
  • RES 3: 117.230 High Sep 4
  • RES 2: 116.966 76.4% retracement of the Sep 1 - Sep 28 downleg
  • RES 1: 116.940 High Nov 3
  • PRICE: 116.710 @ 05:21 GMT Nov 8
  • SUP 1: 116.161 20-day EMA
  • SUP 2: 115.850 Low Oct 27
  • SUP 3: 115.480/130 Low Oct 26 / 19
  • SUP 4: 114.880 Low Sep 28 and the bear trigger

A corrective cycle in Bobl futures is still in play and the contract is trading closer to its recent highs. Key short-term resistance at 116.500, the Oct 10 high, has been cleared and this signals scope for a continuation higher near-term. Scope is seen for a move towards 116.966, the 76.4% retracement of the Sep 1 - Sep 28 bear leg. The 20-day EMA, at 116.161, is the first key support.

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