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(U9) Trendline support under pressure....>

BOBL TECHS
BOBL TECHS: (U9) Trendline support under pressure
*RES 4: 135.209 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: 135.000 Round number resistance
*RES 1: 134.770 U9 contract high Jul 3
*PRICE: 134.510 @ 02:52 GMT July 9
*SUP 1: 134.582/410 Trendline support drawn off the low of May 3 / Low Jul 5
*SUP 2: 134.300 Low Jun 28
*SUP 3: 134.150 Low Jun 27 and key trend support
*SUP 4: 133.913 50-day EMA
U9 Bobl continues to pressure its trendline support at the 134.582 level.
Friday's low print of 134.410 is an important support in that a break lower
would essentially confirm a breach of the trendline and open up potential for a
deeper sell-off. For now, the move lower is seen as a correction with bullish
trend conditions intact. The ability to remain above 134.410 would maintain the
focus on the contract high of Jul 3 at 134.770.

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