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BUND TECHS: (M3) Bearish Threat Remains Present

BUND TECHS
  • RES 4: 138.09 High Apr 6
  • RES 3: 137.55 61.8% retracement of the Mar 20 - Apr 19 bear leg
  • RES 2: 137.29 High May 11
  • RES 1: 135.19/136.38 20-day EMA / High May 16
  • PRICE: 134.09 @ 05:13 BST May 23
  • SUP 1: 133.50 Low May 19
  • SUP 2: 133.10 Low Apr 19 and the bear trigger
  • SUP 3: 132.71 76.4%retracement of the Mar 2 - 20 rally
  • SUP 4: 132.37 Low Mar 10

Bund futures remain in bearish mode following last week’s move lower. Support at 134.99, the May 10 low, was breached and this strengthened the bearish theme, paving the way for a continuation near-term. The focus is on key support at 133.10, the Apr 19 low. On the upside, key short-term resistance has been defined at 137.29, the May 11 high. Initial resistance is 135.19, the 20-day EMA.

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