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(U9) Bulls pause for breath, up-trend....>
BOBL TECHS: (U9) Bulls pause for breath, up-trend remains intact
*RES 4: 136.000 Round number resistance
*RES 3: 135.560 2.618 Fibonacci swing projection of 132.74-133.62 from 133.30
*RES 2: 135.020 2.00 Fibonacci swing projection of 132.74-133.62 from 133.30
*RES 1: 134.700/740 Contract high June 18/channel top drawn off the May-3 low
*PRICE: 134.520 @ 03:30 GMT June 20
*SUP 1: 134.020 Low Jun 17
*SUP 2: 133.900 Low Jun 7
*SUP 3: 133.680 Low Jun 6
*SUP 4: 133.480 50-Day EMA
U9 Bobl uptrend remains in place. Tuesday's strong impulsive rally confirmed a
resumption of the uptrend. Gains this week did offset recent signs of a
potential top and bulls are now back in control. Tuesday's contract highs tested
the top of the bull channel drawn off the May 3 low. It remains to be seen
whether this channel top, at 134.74 today has any impact on bullish sentiment.
On the downside, the 134.02 low of Jun 17 represents initial support.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.