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(U1) Bullish Price Sequence

BOBL TECHS
  • RES 4: 134.357 0.764 proj of the May 20 - 26 - 31 price swing
  • RES 3: 134.290 High May 7
  • RES 2: 134.262 0.618 proj of the May 20 - 26 - 31 price swing
  • RES 1: 134.220 High Jun 4
  • PRICE: 134.1100 @ 05:08 BST Jun 8
  • SUP 1: 133.991 20-day EMA
  • SUP 2: 133.860 Low May 28 and 31 and key short-term support
  • SUP 3: 133.690 Low May 24
  • SUP 4: 133.450 Low May 20 and the bear trigger

Bobl futures traded higher Jun 4 and have confirmed a clear break of resistance at 134.100. The break higher also confirms a bullish price sequence of higher highs and higher lows as the rally from the May 20 low extends. This signals scope for a move towards 134.262, a Fibonacci projection and 134.290, the May 7 high. Key short-term support has been defined at 133.860, May 28 and 31 low. A break would be bearish.

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