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(U2) Bullish Outlook

BOBL TECHS
  • RES 4: 130.000 Round number resistance
  • RES 3: 129.950 2.00 projection of the Jun 16 -24 - 28 price swing
  • RES 2: 129.001 1.764 projection of the Jun 16 -24 - 28 price swing
  • RES 1: 128.760 High Aug 2
  • PRICE: 127.870 @ 05:21 BST Aug 5
  • SUP 1: 126.595/460 20-day EMA / Low Jul 28
  • SUP 2: 125.776 50-day EMA
  • SUP 3: 124.030 Low Jul 21 and a reversal trigger
  • SUP 4: 123.010 Low Jun 30

Bobl futures trend conditions are unchanged and remain bullish - short-term dips are considered corrective. Tuesday’s high print strengthens current trend conditions. The move higher confirmed a resumption of the uptrend and maintains the price sequence of higher highs and higher lows. The focus is on 129.001 next, a Fibonacci projection. Key support is 124.030, Jul 21 low. A break would signal a reversal. Initial firm support is 126.450, Jul 28 low.

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