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(U0) Breached Trendline At 135.014

BOBL TECHS
  • RES 4: 135.310 High Aug 4 and 5
  • RES 3: 135.240 High Aug 6
  • RES 2: 135.140 High Aug 21 and key resistance
  • RES 1: 135.070 Intraday high
  • PRICE: 135.010 @ 04:44 BST Sep 3
  • SUP 1: 134.825/817 20- and 50-day EMAs
  • SUP 2: 134.530 Low Sep 1 and a key support
  • SUP 3: 134.450 Low Aug 14 and the bear trigger
  • SUP 4: 134.410 Low Aug 17

BOBL futures traded higher yesterday and the contract is holding onto gains. Price has traded above a trendline at 135.014, drawn off the Jul 31 high. A clear breach of this hurdle would strengthen a bullish theme and pave the way for strength towards 135.140, Aug 21 high and beyond. On the downside, initial support lies at 134.825/817, the 20- and 50-day EMAs. Key support however is at 134.530, Sep 1 low.

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