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(U4) Short-Term Bull Intact

BOBL TECHS
  • RES 4: 117.160 High Jun 14 and the bull trigger
  • RES 2: 116.920 High Jun 24
  • RES 3: 116.775 76.4% retracement of the Jun 14 - Jul 5 bear leg
  • RES 1: 116.570 High Jul 11
  • PRICE: 116.270 @ 05:38 BST Jul 15
  • SUP 1: 115.900 Low Jul 9
  • SUP 2: 115.530 Low Jul and the key short-term support
  • SUP 3: 115.180 Low Jun 10
  • SUP 4: 115.060 Low May 31 and the bear trigger

The trend set-up in Bobl futures is unchanged and the outlook remains bearish. However, a corrective cycle remains in play and last Thursday’s strong gains strengthen the near-term bullish theme. A resumption of gains would open 116.775, a Fibonacci retracement. Clearance of this level would expose 117.160, the Jun 14 high and bull trigger. On the downside, a reversal would refocus attention on 115.530, the Jul 5 low and a key support.

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