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(Z9) Downtrend Conditions Intact For.....>

BOBL TECHS
BOBL TECHS: (Z9) Downtrend Conditions Intact For Now
*RES 4: 135.411 50-day EMA
*RES 3: 135.240 High Oct 14
*RES 2: 135.080 Low Sep 13
*RES 1: 134.780 High Oct 17
*PRICE: 134.450 @ 03:29 GMT Oct 22
*SUP 1: 134.410 Low Oct 17 and bear trigger
*SUP 2: 134.040 1.000 projection of Sep 3 - Sep 13 decline from Oct 3 high
*SUP 3: 133.948 Projected channel base drawn off Sep 3 high
*SUP 4: 133.615 1.236 projection of Sep 3 - Sep 13 decline from Oct 3 high
Z9 Bobl was softer yesterday, maintaining a weaker tone with the current bearish
phase intact. Momentum studies are still pointing south although the daily
condition is oversold. Note, the candle pattern on Oct 17 is a hammer formation
signalling a potential base in the trend. A move above resistance at 134.780
would reinforce this warning. On the downside, a move below 134.410 is required
to negate this possible reversal signal and resume the downtrend.

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