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(Z9) Bearish Cycle Extends *RES 4:.......>

BOBL TECHS
BOBL TECHS: (Z9) Bearish Cycle Extends
*RES 4: 135.560 High Oct 10
*RES 3: 135.547 50-day EMA
*RES 2: 135.240 High Oct 14 and key near-term resistance
*RES 1: 135.060 High Oct 15
*PRICE: 134.800 @ 03:32 GMT Oct 16
*SUP 1: 134.728 0.618 projection of Sep 3 - Sep 13 decline from Oct 3 high
*SUP 2: 134.465 0.764 projection of Sep 3 - Sep 13 decline from Oct 3 high
*SUP 3: 134.096 Projected channel base from Sep 3 high
*SUP 4: 134.000 Round number support
Z9 Bobl was weaker yesterday as the current downward cycle extends following the
recent convincing break of former support at 135.080. With momentum studies
pointing south too, the outlook remains clearly bearish with the focus on
134.728 and 134.465, both Fibonacci projection levels. On the upside, firm
resistance has been defined at 135.24. As long as this resistance remains
intact, bearish pressure is likely to persist.

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