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(U1) Holding Above Support

BOBL TECHS
  • RES 4: 136.657 1.0% 10-dma envelope
  • RES 4: 136.041 61.8% retracement of the March 2020 downleg
  • RES 3: 135.700 High Dec 11, 2020 (cont)
  • RES 2: 135.640 High Aug 05 and the bull trigger
  • PRICE: 135.300 @ 05:25 BST Aug 25
  • SUP 1: 135.140 Low Aug 13
  • SUP 2: 134.955 50-day EMA
  • SUP 3: 134.570 Low Jul 15
  • SUP 4: 134.410 Low Jul 13 and a key support

Bobl futures continue to trade sideways. The recent pullback between Aug 5 - 13 is considered corrective. Moving average studies remain in a bull mode and a price sequence of higher highs and higher lows continues to dominate, highlighting a bullish trend condition. Attention is on the Dec 11 2020 highs of 135.700 and the 136.041 Fibonacci retracement. Initial support is at 135.140, Aug 13 low. The bull trigger is unchanged 135.640, Aug 5 high.

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