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Free Access(U0) Positive Tone Develops *RES 4:......>
BOBL TECHS: (U0) Positive Tone Develops
*RES 4: 134.930 High May 22
*RES 3: 134.770 Low May 25 and gap high on the daily chart
*RES 2: 134.630 High May 26 and gap low on the daily chart
*RES 1: 134.590 High Jun 11
*PRICE: 134.500 @ 04:52 BST Jun 12
*SUP 1: 134.590 Low Jun 11 and key intraday support
*SUP 2: 134.000 Low Jun 10
*SUP 3: 133.790 Low Jun 5 & 1.50 projection of May 18-19 swing from May 22 high
*SUP 4: 133.700 1.618 projection of May 18 - 19 swing from May 22 high
Bobl futures rallied sharply higher yesterday signalling a potential end to the
recent downtrend and suggesting scope for a stronger near-term recovery. The
focus is on resistance at 134.630, May 26 high where a break would reinforce a
developing bullish theme and set the scene for a climb towards 134.770, May 25
low and 134.930, May 22 high. Initial support lies at yesterday's low of
134.210. A break is required to reinstate a bearish risk and open 133.790.
To read the full story
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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.