CHINA: Country Wrap: China Focused on Steady Growth

• RES 4: 118.390 High Jun 13 and a key resistance  
• RES 3: 118.109 76.4% retracement of the Jun 13 - Jul 11 bear leg  
• RES 2: 118.060 High Jun 20 and a key near-term resistance  
• RES 1: 118.030 High Jul 22      
• PRICE: 117.890 @ 06:09 BST Jul 23 
• SUP 1: 117.667 20-day EMA 
• SUP 2: 117.450 Low Jul 18 
• SUP 3: 117.200 Low Jul 11 and the bear trigger
• SUP 4: 117.000 Round number support       

Bobl futures traded higher again, on Tuesday and the contract maintains a firmer short-term tone. Sights are on a key near-term resistance at 118.060, the Jun 20 high. A break of this hurdle would strengthen a bullish theme  and signal scope for an extension towards 118.390, the Jun 13 high. Key support and the bear trigger has been defined at 117.200, the Jul 11 low. Initial firm support is seen at 117.450, the Jul 18 low.