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(U1) Inching Higher

BOBL TECHS
  • RES 4: 135.575 1.618 proj of May 20 - Jun 11 - Jun 22 price swing
  • RES 3: 135.520 High Mar 25, (cont)
  • RES 2: 135.450 1.50 proj of the May 20 - Jun 11 - Jun 22 price swing
  • RES 1: 135.440 High Aug 02
  • PRICE: 135.400 @ 16:07 BST Aug 02
  • SUP 1: 135.030/134.900 Low Jul 26 / Low Jul 22
  • SUP 2: 134.834/710 20-day EMA / High Jul 8
  • SUP 3: 134.562 50-day EMA
  • SUP 4: 134.410 Low Jul 13 and a key support

Bobl futures inched higher still Monday, extending the bullish weekly close seen on Friday. The break on Jul 8 of 134.510, Jun 11 high and a Fibonacci projection confirmed a resumption of the uptrend and bulls have not looked back. Note too that the rising channel top drawn from the May 20 low has also been breached. The focus is on 135.450, a Fibonacci projection. Initial firm support lies at 134.900, Jul 22 high.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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