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(U1) Heading North

BOBL TECHS
  • RES 4: 135.350 High Apr 8 (cont)
  • RES 3: 135.313 2.236 proj of the May 20 - 26 - 31 price swing
  • RES 2: 135.160 2.00 proj of the May 20 - 26 - 31 price swing
  • RES 1: 135.270 High Jul 26 and 27
  • PRICE: 135.250 @ 05:20 BST Jul 28
  • SUP 1: 134.900 Low Jul 22
  • SUP 2: 134.726/710 20-day EMA / High Jul 8
  • SUP 3: 134.498 50-day EMA
  • SUP 4: 134.410 Low Jul 13 and a key support

Bobl futures are holding onto recent gains as a bullish theme continues to dominate. This follows the break on Jul 8 of a key short-term resistance at 134.510, Jun 11 high and a Fibonacci projection. The move higher confirmed a resumption of the uptrend from May 20 and subsequent gains reinforce the current bullish trend structure. The rising channel top drawn from the May 20 low has also been breached. Initial support lies at 134.900, Jul 22 high.

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