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(U3) Support 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: 116.200 High Jul 24 and key near-term resistance
  • PRICE: 115.790 @ 05:19 BST Aug 8
  • SUP 1: 115.333/230 61.8% of the Jul 6 - 19 rally / Low Aug 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 are in consolidation mode. On Jul 28, the contract breached 115.540, Jul 21 / 26 low, before recovering. The break undermines the recent bullish theme and continues to highlight a bearish threat. Last Friday’s move lower resulted in a print below 115.333, a Fibonacci retracement point and an important support. A clear break of this level would strengthen a bearish threat. Key near-term resistance is unchanged at 116.200, the Jul 24 high.

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