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(U9) Bulls probing the key 134.70........>
BOBL TECHS: (U9) Bulls probing the key 134.70 resistance
*RES 4: 135.136 Bull channel top drawn off the May 3 low
*RES 3: 135.060 2.00 Fibo projection of the May 3-15 rally off the May 22 low
*RES 2: 135.00 round number resistance
*RES 1: 134.740 Intraday contract high
*PRICE: 134.730 @ 03:01 GMT July 3
*SUP 1: 134.300 Low Jun 28
*SUP 2: 134.150 Low Jun 27 and key trend support
*SUP 3: 134.020 Low Jun 17
*SUP 4: 133.795 50-day EMA
U9 Bobl bulls still dominate. The break on Monday above former resistance at
134.47 and Tuesday's follow through is a positive development that brings into
focus the contract high of 134.70 from Jun 25 that has been probed today. A
clear breach of this level is required to confirm a resumption of the bull trend
and open 135.136, the bull channel top and a key resistance point. Trend support
lies at 134.15 and needs to hold to maintain the bullish theme.
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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.