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(U2) Short-Term Trend Needle Points North

BOBL TECHS
  • RES 4: 126.710 High May 26
  • RES 3: 126.410 High May 27
  • RES 2: 126.090 High May 30
  • RES 1: 125.790 High Jul 1 and the bull trigger
  • PRICE: 124.430 @ 05:16 BST Jul 5
  • SUP 1: 123.406 20-day EMA
  • SUP 2: 121.910 Low Jun 28
  • SUP 3: 120.990 Low Jun 21
  • SUP 4: 119.940 Low Jun 16 and bear trigger

Bobl futures ended last week on a firm note and a bull cycle remains intact. The contract has cleared resistance at 123.960, the Jun 24 high. This confirms a resumption of the current bullish corrective cycle and price has established a positive price sequence of higher highs and higher lows. Scope is seen for a climb towards 126.090, the May 30 high. Key short-term support has been defined at 121.190, Jun 28 low. A break would highlight a reversal.

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  • RES 4: 126.710 High May 26
  • RES 3: 126.410 High May 27
  • RES 2: 126.090 High May 30
  • RES 1: 125.790 High Jul 1 and the bull trigger
  • PRICE: 124.430 @ 05:16 BST Jul 5
  • SUP 1: 123.406 20-day EMA
  • SUP 2: 121.910 Low Jun 28
  • SUP 3: 120.990 Low Jun 21
  • SUP 4: 119.940 Low Jun 16 and bear trigger

Bobl futures ended last week on a firm note and a bull cycle remains intact. The contract has cleared resistance at 123.960, the Jun 24 high. This confirms a resumption of the current bullish corrective cycle and price has established a positive price sequence of higher highs and higher lows. Scope is seen for a climb towards 126.090, the May 30 high. Key short-term support has been defined at 121.190, Jun 28 low. A break would highlight a reversal.