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Free Access(U2) Remains Soft
- RES 4: 127.580 High Aug 10
- RES 3: 127.290 High Aug 15
- RES 2: 126.930 High Aug 17
- RES 1: 125.100/847 High Aug 23 / 50-day EMA
- PRICE: 124.760 @ 05:18 BST Aug 26
- SUP 1: 124.260 Low Aug 24
- SUP 2: 124.030 Low Jul 21 and a reversal trigger
- SUP 3: 123.309 61.8% retracement of the Jun 16 - Aug 2 rally
- SUP 4: 122.180 Low Jun 29
Bobl futures remain bearish and the contract is trading closer to its recent lows. The 50-day EMA has recently been breached and the deeper pullback has opened 124.030, the Jul 21 low and a reversal trigger. Note that the contract has this month also breached a trendline support drawn from the Jun 16 low, reinforcing bearish conditions. Initial firm resistance is seen at the 50-day EMA at 125.847.
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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.