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(U9) Tests trendline support *RES 4:.....>

BOBL TECHS
BOBL TECHS: (U9) Tests trendline 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: 136.09 High Aug 22
*PRICE: 135.760 @ 02:41 GMT Aug 23
*SUP 1: 135.721/ 640 Trendline support drawn off the Jul 12 low / Low Aug 22
*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 yesterday resulted in a test and temporary breach of
trendline support at 135.666. The trendline is drawn off the Jul 12 low. The
pullback follows a recent failure to extend the bull rally on the back of a
fresh contract high on Aug 20. A move below yesterday's low of 135.640 would
reinforce the bearish tone and signal scope for a deeper pullback towards
135.403, 38.2% of the Jul 12-Aug 20 rally. On the upside, 136.240 is resistance.

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