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(U1) Approaching Its Bull Channel Top

BOBL TECHS
  • 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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