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(U9) Consolidating, up-trend remains.....>

BOBL TECHS
BOBL TECHS: (U9) Consolidating, 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: 134.700/780 Contract high June 18/channel top drawn off the May-3 low
*PRICE: 134.440 @ 02:58 GMT June 21
*SUP 1: 134.240 Trendline support drawn off the May 3 low
*SUP 2: 134.020 Low Jun 17
*SUP 3: 133.900 Low Jun 7
*SUP 4: 133.680 Low Jun 6
U9 Bobl uptrend remains in place. Tuesday's strong impulsive rally confirmed a
resumption of the uptrend and remains the key technical development this week.
Momentum conditions are overbought however given the lack of any bearish price
threats, this overbought condition is not a concern for bulls right now.
Tuesday's highs tested the top of the bull channel drawn off the May 3 low. It
remains to be seen whether this top, at 134.78 today impacts bullish sentiment.

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