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BOBL TECHS: (U9) Correction lower?
*RES 4: 137.315 2.618 projection of the Jul 12-Jul 25 rally from Jul 25 low
*RES 3: 137.000 Round number resistance
*RES 2: 136.315 1.618 projection of the Jul 12-Jul 25 rally from Jul 25 low
*RES 1: 136.230 Contract high Aug 15
*PRICE: 135.990 @ 02:59 GMT Aug 20
*SUP 1: 135.820 Low Aug 15
*SUP 2: 135.630 Low Aug 9
*SUP 3: 135.554 Trendline support drawn off the July 12 low
*SUP 4: 135.360 Low Aug 7
U9 Bobl failed to hold onto its highs last Thursday and has since pulled back.
Whether this is the start of a phase allowing either a consolidative pause in
the trend or even a correction to unfold, remains to be seen. Attention is on
support at 135.82, the Aug 15 low. A break would allow for a deeper pullback
bringing into focus trendline support at 135.554. Key resistance is at 136.230,
a breach would instead confirm a resumption of the uptrend.