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(U3) Short-Term Outlook Remains Bullish

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: 116.200/244 High Jul 24 / 50-dma (cont)
  • PRICE: 115.820 @ 05:21 BST Jul 27
  • SUP 1: 115.540 Low Jul 21 / 26
  • 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 remain in a bull cycle and the pullback from last week’s high is considered corrective. Attention is on key short-term resistance that has been defined at 116.600, the Jul 19 high. Clearance of this level would confirm a resumption of the uptrend and open 116.990, the Jun 12 high. On the downside, a move through 115.540, the Jul 21 / 26 low, would instead signal scope for a deeper retracement.

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