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(U1) Starts The Week On A Firmer Note

BOBL TECHS
  • RES 4: 134.934 Bull channel top drawn off the May 20 low
  • 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: 134.820 Intraday high
  • PRICE: 134.780 @ 06:32 BST Jul 19
  • SUP 1: 134.570 Low Jul 15
  • SUP 2: 134.410 Low Jul 13 and a key support
  • SUP 3: 134.318 50-day EMA
  • SUP 4: 134.134 Bull channel base drawn off the May 20 low

Bobl futures maintain a bullish theme and have started the week on a firm note. The contract on Jul 8 confirmed a clear break of a key short-term resistance at 134.510, Jun 11 high and a Fibonacci projection. The break confirmed a resumption of the recovery from May 20 and sets the scene for an extension higher. This opens 134.835, a Fibonacci projection and 134.934, a bull channel top. Key support lies at 134.410, Jul 13 low.

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