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GOLD TECHS

Needle Still Points South

GOLD TECHS

Needle Still Points South

BUNDS

ECB forum on CBs starts

WTI TECHS

(X1) Defying Gravity

BRENT TECHS

(X1) Clears $80.00

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  • 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: 135.130 High Jul 20
  • PRICE: 135.040 @ 05:06 BST Jul 21
  • SUP 1: 134.710/570 High Jul 8 / Low Jul 15
  • SUP 2: 134.410 Low Jul 13 and a key support
  • SUP 3: 134.365 50-day EMA
  • SUP 4: 134.167 Bull channel base drawn off the May 20 low

Bobl futures traded higher again yesterday, extending the current rally. The contract on Jul 8 confirmed a break of a key S/T resistance at 134.510, Jun 11 high and a Fibonacci projection. This confirmed a resumption of the uptrend from May 20 and the climb Friday and this week reinforces the current bullish trend structure. The bull channel top drawn from the May 20 low has also been breached. Initial support lies at 134.710, Jul 8 high.