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(U0) Range Still Dominates

BOBL TECHS
  • RES 4: 135.150 50.0% retrace of the May 4 - Jun 10 decline (cont)
  • RES 3: 135.080 High Jun 29 and the bull trigger
  • RES 2: 135.040 High Jul 22
  • RES 1: 134.950 High Jul 24
  • PRICE: 134.820 @ 05:00 BST Jul 28
  • SUP 1: 134.610/560 Low Jul 20 / Low Jul 13
  • SUP 2: 134.510 Low Jul 2 and key support
  • SUP 3: 134.435 50.0% retracement of the rally between Jun 5 - 29
  • SUP 4: 134.410 Low Jun 17

Bobl futures stalled last week at 135.040, Jul 22 high. Although
yesterday's rally retraced a large portion of the most recent move lower,
the contract continues to trade sideways. This has created a range with
the parameters defined by resistance at 135.080, Jun 29 high and
support at 134.510, Jul 2 low. A break either side is required to highlight
this market's near-term directional bias.

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