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Free Access(U17) 132.54 Loss Weakens Recent.........>
BOBL TECHS: (U17) 132.54 Loss Weakens Recent Upside Momentum
*RES 4: 133.38 61.8% Fibo of 134.89-130.95
*RES 3: 133.26 Jun 12 high
*RES 2: 133.21 0.5% volatility band
*RES 1: 132.87/95 Aug 11, Jun 21 highs
*PRICE: 132.62 @1510GMT
*SUP 1: 132.46 Aug 4 high, now support
*SUP 2: 132.37/40 Opening gap Aug 8-Aug 9
*SUP 3: 132.24/27 Aug 7 low, 38.2% Fibo of 131.30-132.87
*SUP 4: 132.14 Jul 24 high, now support
*COMMENTARY* Loss of 132.54 support becomes a worry as near term upside momentum
begins to wane. Eyes next on the 132.46-132.37 area, as further loss here will
add to the concerns and suggest that we may be ready to see a correction of the
gains seen since the Jul 6 low at 131.30. This would begin with a drop to the
132.24-132.27 area. Minor resistance developing around 132.75 now stands in the
way of a 132.87-132.95 return.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.