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(Z9) Stalls At The Channel Top *RES 4:...>

BOBL TECHS
BOBL TECHS: (Z9) Stalls At The Channel Top
*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: 134.448 Channel top drawn off the Sep 3 high
*PRICE: 134.160 @ 04:55 GMT Nov 22
*SUP 1: 134.030 Low Nov 13
*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
From a pattern perspective, the past two sessions in Z9 Bobl highlight a bearish
development. Two important Japanese candle patterns have unfolded, a long legged
doji Wednesday and yesterday a bearish engulfing. These have occurred following
a failure earlier this week to clear the bear channel top now at 134.448. The
channel is drawn off the Sep 3 high. Unless price can breach 134.530, Wednesday
high, futures are now seen likely to remain vulnerable.

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