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Free Access(U0) Bearish Despite Bounce
- RES 4: 135.240 High Aug 6
- RES 3: 135.140 High Aug 21 and key resistance
- RES 2: 134.970 High Aug 25
- RES 1: 134.845/860 50-day and 20-day EMA
- PRICE: 134.730 @ 05:14 BST Aug 27
- SUP 1: 134.540 Low Aug 26
- SUP 2: 134.450 Low Aug 14 and the bear trigger
- SUP 3: 134.410 Low Aug 17
- SUP 4: 134.336 61.8% retracement of the Jun - late Jul rally
BOBL futures maintain a bearish tone despite the recovery off yesterday's low. The Aug 21 high of 135.140, just above 76.4% of the Jul 31 - Aug 14 sell-off at 135.138, remains a key near-term resistance. The sharp sell-off this week signals scope for a deeper pullback as a bearish theme starts to dominate once again. The focus is on the key support at 134.450, Aug 14 low. Initial firm resistance is at 134.970, yesterday's high.
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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.