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(Z3) Support At The 50-Day EMA Remains Intact

BOBL TECHS
  • RES 4: 117.751 1.618 proj of the Sep 28 - Oct 10 - 19 price swing
  • RES 3: 117.610 High Sep 1 and a key resistance
  • RES 2: 117.369 1.382 proj of the Sep 28 - Oct 10 - 19 price swing
  • RES 1: 117.040/230 High Nov 22 / 17 and the bull trigger
  • PRICE: 116.880 @ 05:19 GMT Nov 28
  • SUP 1: 116.380/000 50-day EMA / Low Nov 13 and a key support
  • 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 bull cycle in Bobl futures remains in play and the recent pullback appears - for now - to be a correction. Yesterday’s gains are a positive development. The contract has recently pierced support at the 50-day EMA, at 116.380. A clear break of the average would undermine bullish conditions and signal scope for a deeper retracement, towards support at 116.000. The bull trigger is at 117.230, the Nov 17 high. A breach of this level resumes the uptrend.

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