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(U2) Trend Needle Still Points North

BOBL TECHS
  • RES 4: 128.380 High May 12 (cont)
  • RES 3: 128.00 Round number resistance
  • RES 2: 127.940 1.50 projection of the Jun 16 -24 - 28 price swing
  • RES 1: 127.300 High Jul 26
  • PRICE: 126.700 @ 05:21 BST Jul 28
  • SUP 1: 125.541 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 outlook remains bullish and the contract is trading closer to recent haighs. Tuesday’s climb confirmed a resumption of the current uptrend and maintains the bullish price sequence of higher highs and higher lows. The focus is on 127.940, a Fibonacci projection. The contract has defined a key short-term support at 124.030, the Jul 21 low. A break of this level is required to signal a reversal.

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