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