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Free Access(U0) Still In A Corrective Phase
- RES 4: 135.240 High Aug 6
- RES 3: 135.135 76.4% retracement of the Jul 31 - Aug 14 sell-off
- RES 2: 135.006 61.8% retracement of the Jul 31 - Aug 14 sell-off
- RES 1: 134.980 High Aug 19
- PRICE: 134.920 @ 04:54 BST Aug 20
- SUP 1: 134.710 Low Aug 18
- SUP 2: 134.450 Low Aug 14 and the bear trigger
- SUP 3: 134.410 Low Jun 17
- SUP 4: 134.386 61.8% retracement of the Jun - Aug rally
BOBL futures traded higher again yesterday.. The contract did however find resistance at the day high of 134.980. These recent gains continue to be viewed as a correction with the outlook still bearish. Last week saw a number of key support levels breached, the most recent being a move through 134.510, Jul 2 low on Aug 14. Key resistance for today is seen at 135.006, a retracement level. A break would expose 135.138.
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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.