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(U1) Trading At Recent Highs

BOBL TECHS
  • RES 4: 134.357 0.764 proj of the May 20 - 26 - 31 price swing
  • RES 3: 134.290 High May 7
  • RES 2: 134.185 0.50 proj of the May 20 - 26 - 31 price swing
  • RES 1: 134.120 High Jun 3
  • PRICE: 134.090 @ 05:26 BST Jun 4
  • SUP 1: 133.953 20-day EMA
  • SUP 2: 133.860 Low May 28 and 31
  • SUP 3: 133.690 Low May 24
  • SUP 4: 133.450 Low May 20 and the bear trigger

Bobl futures are holding onto this week's gains and yesterday probed initial resistance at 134.100, May 26, 27 and June 2 high before pulling back. Recent gains are still considered corrective. Further gains would open the next key short-term resistance at 134.290, May 7 high. On the downside, initial support is seen at 133.86, low May 28 and 31. A break would signal the end of the correction and the potential for a stronger move lower.

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