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EGB Supply For W/C May 23, 2022 (2/2): Recap


Bullish Extension


EGB Supply For W/C May 23, 2022 (1/2): Recap


W/C May 23, 2022



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(M1) Extends Gains

  • RES 4: 135.700 High Dec 11, 2020 (cont)
  • RES 3: 135.544 0.764 proj of the Feb 26 - Mar 3 - Mar 9 price swing
  • RES 2: 135.480 High Jan 27 (cont) and a key resistance
  • RES 1: 135.398 0.618 proj of the Feb 26 - Mar 3 - Mar 9 price swing
  • PRICE: 135.380 @ 05:05 GMT Mar 24
  • SUP 1: 135.140 Low Mar 22
  • SUP 2: 134.870 Low Mar 18
  • SUP 3: 134.780 Low Mar 8 and 9
  • SUP 4: 134.730 Low Mar 1

Bobl futures maintain a firmer tone. Resistance at 135.220, Mar 16 has been cleared. The clear break of this hurdle ends the recent period of consolidation and confirms a resumption of the recovery that started Feb 26. This paves the way for strength towards 135.480 next, Jan 27 high. Initial firm support has been defined at 134.870, Mar 18 low where a break is required to reinstate a bearish theme.

MNI London Bureau | +44 203-586-3805 |
MNI London Bureau | +44 203-586-3805 |

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