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(U9) 135.640 pivotal support *RES 4:.....>

BOBL TECHS
BOBL TECHS: (U9) 135.640 pivotal support
*RES 4: 137.000 Round number resistance
*RES 3: 136.315 1.618 projection of the Jul 12-Jul 25 rally from Jul 25 low
*RES 2: 136.240 Contract high Aug 20
*RES 1: 136.15 High Aug 21 and intraday high
*PRICE: 136.080 @ 03:23 GMT Aug 26
*SUP 1: 135.777/640 Trendline sup drawn off Jul 12 low/Low Aug 22 & key support
*SUP 2: 135.403 38.2% retracement of the Jul 12-Aug 20 rally
*SUP 3: 135.360 Low Aug 7
*SUP 4: 135.110 High Jul 25
U9 Bobl selling pressure last Thurs resulted in a test & temporary breach of
trendline support. The trendline is drawn off the Jul 12 low. Friday however saw
the trendline hold and prices reverse higher. Key support has been defined at
135.640, the low of Aug 22. As long as this level remains intact, the trendline
& the bull trend remains intact too. The focus is on the contract high of
136.24. A break of 135.640 is required to signal scope for a deeper correction.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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