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(U3) Strong Rally

BOBL TECHS
  • RES 4: 116.860 High Jun 13
  • RES 3: 116.600 High Jul 19 and a key resistance
  • RES 2: 116.340 High Aug 8
  • RES 1: 116.040 High Aug 23
  • PRICE: 115.960 @ 05:25 BST Aug 24
  • SUP 1: 115.498/210 20-day EMA / Low Aug 23
  • SUP 2: 114.960 Low Aug 21
  • SUP 3: 114.710 Low Aug 15
  • SUP 4: 114.550 Low Jul 6 and a key support

Bobl futures rallied sharply higher yesterday. The climb resulted in a break of both the 20- and 50-day EMA values. This highlights a stronger short-term reversal and a continuation higher would signal scope for gains towards 116.340, the Aug 8 high. Moving average studies continue to highlight a dominant downtrend and suggest that current gains are a correction. A break below yesterday’s low of 115.210, would be a bearish development.

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