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(U3) Resistance Remains Intact

  • 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: 116.200 High Jul 24 and key near-term resistance
  • PRICE: 115.840 @ 05:22 BST Aug 1
  • SUP 1: 115.333/320 61.8% of the Jul 6 - 19 rally / Low Jul 28
  • 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 through support at 115.540 last Friday, the Jul 21 / 26 low, before recovering. The break lower undermines the recent bullish theme and highlights a bearish threat. This has exposed 115.333, a Fibonacci retracement point and the next important support. It has been pierced and a clear break would strengthen a bearish threat. On the upside, key near-term resistance is unchanged at 116.200, the Jul 24 high.

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