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UK DATA

UK Monthly GDP Rose As Schools Reopen

SILVER TECHS

Bulls Still In Charge

UK DATA

UK GDP Down in Q1 Amid Lockdown

GOLD TECHS

Bullish Price Sequence

WTI TECHS

(M1) Needle Still Points North

BUND TECHS
  • RES 4: 179.56 High Mar 6 (cont)
  • RES 3: 179.22 1.000 proj of Jun 5 - Jun 29 rally from Jul 2 low
  • RES 2: 178.23 0.764 proj of Jun 5 - Jun 29 rally from Jul 2 low
  • RES 1: 178.00 / 01 Round number resistance / High Jul 31
  • PRICE: 177.54 @ 06:14 BST Aug 7
  • SUP 1: 176.83 Jul 29 low
  • SUP 2: 175.95 Low Jul 24 and key near-term support
  • SUP 3: 175.77/54 Low Jul 20 / Low Jul 9
  • SUP 4: 175.04 Low Jul 2

After finding fresh impetus to close up at the 178 handle and the Jul 31 high Tuesday, markets reverted back to the middle of the recent range. The modest recovery Thursday is yet to put the recent highs under pressure, but Friday US jobs data could move the needle. For now, directional parameters are intact, with markets needing to close above 178.00/01 to re-accelerate any rally. The ultimate target holds at 179.56, Mar 6 high. Support is at 176.83.

MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com