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(M2) Trend Condition Remains Bearish

BUND TECHS
  • RES 4: 159.58 50-day EMA
  • RES 3: 159.79 High Apr 4 and key short-term resistance
  • RES 2: 156.37 High Apr 14 and the 20-day EMA
  • RES 1: 155.00 High Apr 20
  • PRICE: 154.25 @ 05:24 BST Apr 26
  • SUP 1: 153.05/153.00 Low Apr 22 / Round number support
  • SUP 2: 152.65 Low Sep 1 2015 (cont)
  • SUP 3: 151.99 0.618 proj of the Mar 7 - 29 - Apr 4 price swing
  • SUP 4: 150.15 0.764 proj of the Mar 7 - 29 - Apr 4 price swing

Bunds futures gains are considered corrective. A bearish theme continues to dominate and fresh cycle lows last week reinforce this outlook. The move lower also confirmed an extension of the bearish price sequence of lower lows and lower highs. Moving average studies are in a bear mode too. The focus is on 153.00 next ahead of 152.65, the Sep 1 2015 low (cont). Initial resistance is at 155.26, Apr 26 high.

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