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(U1) Approaching Its Bull Channel Top
- RES 4: 135.313 2.00 proj of the May 20 - 26 - 31 price swing
- RES 3: 135.007 1.764 proj of the May 20 - 26 - 31 price swing
- RES 2: 134.950 Bull channel top drawn off the May 20 low
- RES 1: 134.880 High Jul 19
- PRICE: 134.860 @ 04:37 BST Jul 20
- SUP 1: 134.700/570 Low Jul 19 / Low Jul 15
- SUP 2: 134.410 Low Jul 13 and a key support
- SUP 3: 134.338 50-day EMA
- SUP 4: 134.151 Bull channel base drawn off the May 20 low
Bobl futures are trading close to yesterday's high following a strong start to the week. The contract on Jul 8 confirmed a break of a key S/T resistance at 134.510, Jun 11 high and a Fibonacci projection. This confirmed a resumption of the uptrend from May 20 and the climb Friday and yesterday reinforces the current bullish trend structure. The focus is on 134.950, a bull channel drawn from the May 20 low. Key support lies at 134.410, Jul 13 low.
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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.