December 23, 2024 07:12 GMT
CREDIT MACRO: BUND TECHS: (H5) Bear Cycle Still Intact
CREDIT MACRO
BUND TECHS: (H5) Bear Cycle Still Intact
The current trend cycle in Bund futures is unchanged, it remains bearish and the contract is trading at its recent lows. 133.98, 61.8% of the Nov 6 - Dec 2 bull cycle, has been pierced. A clear break of this price point would signal scope for a move towards 133.22, the 76.4% retracement level. First key resistance to watch is 135.02, the 20-day EMA. A move above this level would signal a possible reversal.
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