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(U2) Challenges Key Short-Term Resistance

BOBL TECHS
  • RES 4: 127.940 1.50 projection of the Jun 16 -24 - 28 price swing
  • RES 3: 127.160 High May 12
  • RES 2: 126.879 1.236 projection of the Jun 16 -24 - 28 price swing
  • RES 1: 126.860 High Jul 22
  • PRICE: 126.350 @ 05:20 BST Jul 25
  • SUP 1: 125.043 20-day EMA
  • SUP 2: 124.030 Low Jul 21 and a reversal trigger
  • SUP 3: 123.010 Low Jun 30
  • SUP 4: 121.910 Low Jun 28 and a support

Bobl futures have defined a key short-term support at 124.030, the Jul 21 low. A bull cycle remains in play and Friday’s gains resulted in a high print above 126.560, the Jul 6 high and bull trigger. This signals a resumption of the current uptrend and maintains the bullish price sequence of higher highs and higher lows. The focus is on 127.160, the May 12 high. A break of 124.030 is required to signal a reversal.

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  • RES 4: 127.940 1.50 projection of the Jun 16 -24 - 28 price swing
  • RES 3: 127.160 High May 12
  • RES 2: 126.879 1.236 projection of the Jun 16 -24 - 28 price swing
  • RES 1: 126.860 High Jul 22
  • PRICE: 126.350 @ 05:20 BST Jul 25
  • SUP 1: 125.043 20-day EMA
  • SUP 2: 124.030 Low Jul 21 and a reversal trigger
  • SUP 3: 123.010 Low Jun 30
  • SUP 4: 121.910 Low Jun 28 and a support

Bobl futures have defined a key short-term support at 124.030, the Jul 21 low. A bull cycle remains in play and Friday’s gains resulted in a high print above 126.560, the Jul 6 high and bull trigger. This signals a resumption of the current uptrend and maintains the bullish price sequence of higher highs and higher lows. The focus is on 127.160, the May 12 high. A break of 124.030 is required to signal a reversal.