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(U1) Holding Above Last Week's Lows

BOBL TECHS
  • RES 4: 134.758 1.382 proj of the May 20 - 26 - 31 price swing
  • RES 3: 134.663 1.236 proj of the May 20 - 26 - 31 price swing
  • RES 2: 134.510 1.00 proj of the May 20 - 26 - 31 price swing
  • RES 1: 134.390 High Jun 15
  • PRICE: 134.210 @ 05:24 BST Jun 21
  • SUP 1: 134.050 Low Jun 17
  • 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 are still trading near last week's lows but remain above 134.05, Jun 17 low. The recent pullback is considered corrective however a bearish risk remains present. Price is below the 20-day EMA and note that key support lies at 133.860, May 28 and 31 low. A break of this level would strengthen a bearish case. On the upside, key resistance and the bull trigger has been defined at 134.510, a Fibonacci projection and the Jun 11 high.

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