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(U3) Key Resistance Remains Exposed

BOBL TECHS
  • RES 4: 116.990 High Jun 12 and a key resistance
  • RES 3: 116.860 High Jun 13
  • RES 2: 116.600 High Jul 19 and the bull trigger
  • RES 1: 116.340 High Aug 8
  • PRICE: 115.880 @ 05:12 BST Aug 10
  • SUP 1: 115.670/230 Low Aug 8 / 4
  • SUP 2: 115.230 Low Jul 13
  • SUP 3: 115.034 76.4% retracement of the Jul 6 - 19 rally
  • SUP 4: 114.730 Low Jul 12

Bobl futures traded higher yesterday and in the process breached resistance at 116.200, the Jul 24 high. The contract has pulled back, however, the break higher cancels a recent bearish threat and instead signals scope for a climb towards key short-term resistance at 116.600, the Jul 19 high. Clearance of this level would be a bullish development. On the downside, a break of 115.230, the Jul 13 low, would reinstate a bearish threat.

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