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(Z9) Hammer Formation Reversal? *RES.....>

BOBL TECHS
BOBL TECHS: (Z9) Hammer Formation Reversal?
*RES 4: 135.378 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: 134.690 @ 03:22 GMT Oct 23
*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: 133.906 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 has started the week on a firmer note managing to hold above last weeks
low of 134.410. The hammer candle formation on Oct 17 signals a potential base
in the recent downtrend. If prices are able to recover above resistance at
134.780, this would essentially confirm a near-term reversal. Momentum studies
are oversold and currently attempting to unwind this condition. A move below
134.410 is needed to resume the downtrend.

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