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(U4) Fresh Cycle High

BOBL TECHS
  • RES 4: 117.844 1.0% 10-dma envelope
  • RES 3: 117.640 2.236 proj of the May 31 - Jun 4 - 10 price swing
  • RES 2: 117.380 2.00 proj of the May 31 - Jun 4 - 10 price swing
  • RES 1: 117.280 High Jul 29
  • PRICE: 117.210 @ 05.36 BST Jul 30
  • SUP 1: 116.633 20-day EMA
  • SUP 2: 116.320 Low Jul 22
  • SUP 3: 115.980 Low Jul 10 / 11
  • SUP 4: 115.530 Low Jul and the key short-term support

Bobl futures traded higher Monday, rallying to touch a new monthly high at 117.280. This has resulted in a print above key resistance at the Jun 14 high of 117.160. A medium-term bull cycle remains in play and a clear breach of 117.160 would reinforce current conditions. This would open 117.380, a Fibonacci projection. A reversal would instead refocus attention on 115.530, the Jul 5 low and key support. Initial firm support is 116.633, the 20-day EMA.

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