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(U1) Bullish Price Sequence Intact

BOBL TECHS
  • RES 4: 134.510 1.00 proj of the May 20 - 26 - 31 price swing
  • RES 3: 134.357 0.764 proj of the May 20 - 26 - 31 price swing
  • RES 2: 134.290 High May 7
  • RES 1: 134.270 High Jun 8
  • PRICE: 134.200 @ 05:22 BST Jun 9
  • SUP 1: 134.011 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 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 134.290 next, May 7 high ahead of 134.357, a Fibonacci projection. Key short-term support has been defined at 133.860, May 28 and 31 low. A break is needed to reverse the current direction

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