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(U3) Maintains A Softer Tone

BOBL TECHS
  • RES 4: 118.130 High May 11
  • RES 3: 118.000 Round number resistance
  • RES 2: 117.700 High Jun 1 and key short-term resistance
  • RES 1: 117.000 High Jun 5
  • PRICE: 116.650 @ 04:58 BST Jun 6
  • SUP 1: 116.590 Low Jun 5
  • SUP 2: 116.400 Low May 30
  • SUP 3: 116.302 76.4% retracement of the May 26 - Jun 1 rally
  • SUP 4: 115.870 Low May 26

Bobl futures remain softer following the pullback from last week’s high of 117.700 on Jun 1. A continuation lower would expose support at 116.400, the May 30 low and if this level is cleared, potential would be seen for weakness towards key short-term support at 115.870, the May 26 low. On the upside, a break of 117.700 is required to reinstate the recent bullish theme and this would open the 118.00 handle.

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