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(U1) Clears Key Resistance

BOBL TECHS
  • RES 4: 135.00 Psychological round number
  • RES 3: 134.912 1.618 proj of the May 20 - 26 - 31 price swing
  • RES 2: 134.835 1.50 proj of the May 20 - 26 - 31 price swing
  • RES 1: 134.758 1.382 proj of the May 20 - 26 - 31 price swing
  • PRICE: 134.670 @ 09:28 BST Jul 8
  • SUP 1: 134.070 Low Jul 6
  • SUP 2: 133.860 Low May 28, 31, Jun 22 and key S/T support
  • SUP 3: 133.700 76.4% retracement of the May 20 - Jun 11 rally
  • SUP 4: 133.530 Low May 21

Bobl futures have maintained a bullish theme this week as the current uptrend extends. Futures have cleared key short term resistance at 134.510 this morning, Jun 11 high and a Fibonacci projection. The clear break confirms a resumption of the recovery that started May 20 and sets the scene for an extension higher. This opens 134.758, a Fibonacci projection. On the downside, support lies at 134.070, Jul 6 low.

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