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(Z9) Correcting higher *RES 4: 136.360...>
BOBL TECHS: (Z9) Correcting higher
*RES 4: 136.360 High Sep 9 and 12
*RES 3: 136.020 Low Aug 22
*RES 2: 135.766 Trendline resistance drawn of Sep 3 high
*RES 1: 135.560 High Sep 23
*PRICE: 135.470 @ 03:15 GMT Sep 24
*SUP 1: 135.150 Low Sep 23
*SUP 2: 135.080 Low Sep 13
*SUP 3: 135.033 1.618 projection of Sep 3 - Sep 5 decline from Sep 9 high
*SUP 4: 134.720 2.000 projection of Sep 3 - Sep decline from Sep high
Z9 Bobl started the week yesterday on a firm note breaching resistance at
135.410 to mark a breakout of the short-term range prices had recently
established. This signals scope for a stronger bounce. Attention is on trendline
resistance at 135.766, drawn off the Sep 3 high. While the trendline remains
intact, gains are seen to be corrective in nature with this months bearish trend
conditions still in place. Initial support for bears to breach lies at 135.15.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.