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(Z9) Eyeing Bear Channel Resistance......>

BOBL TECHS
BOBL TECHS: (Z9) Eyeing Bear Channel Resistance
*RES 4: 135.060 High Oct 15
*RES 3: 134.730 High Oct 23 and 24 and key resistance
*RES 2: 134.530 High Nov 20
*RES 1: 134.407 Channel top drawn off the Sep 3 high
*PRICE: 134.350 @ 04:47 GMT Nov 25
*SUP 1: 134.110 Low Nov 22
*SUP 2: 133.830 Low Nov 7 and key support
*SUP 3: 133.615 1.236 projection of Sep 3 - Sep 13 decline from Oct 3 high
*SUP 4: 133.140 1.500 projection of Sep 3 - Sep 13 decline from Oct 3 high
Z9 Bobl rebounded Friday and attention returns to the bear channel resistance at
134.407, drawn off the Sep 3 high. Clearance of this hurdle and of resistance at
134.530, Nov 20 high would highlight an important technical break and a
potential reversal. Note, two important bearish candle patterns unfolded last
week, a long legged doji Wednesday and a bearish engulfing Thursday. A breach of
134.110 would mark an important bearish break.

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