August 22, 2024 04:45 GMT
BUND TECHS: (U4) Trend Structure Remains Bullish
BUND TECHS
Fixed Income Technical AnalysisBundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletGlobalFixed Income BulletsRegion
- RES 4: 136.99 3.382 projection of the May 31 - Jun 5 - 1 price swing
- RES 3: 136.45 76.4% of the Dec 27 - May 31 downleg (cont)
- RES 2: 136.28 High Aug 5 and the bull trigger
- RES 1: 135.17/135.59 High Aug 14 / 6
- PRICE: 134.75 @ 05:28 BST Aug 22
- SUP 1: 134.09 20-day EMA
- SUP 2: 133.18 50-day EMA
- SUP 3: 132.08 Low Jul 26
- SUP 4: 131.62 Low Jul 22 and a key support
The trend condition in Bund futures is unchanged., it remains bullish. 133.21, the Jun 14 high, was cleared on Jul 29, confirming a resumption of the uptrend. Note that moving average studies are in a bull-mode position too. A resumption of the trend would open 136.45, a Fibonacci retracement. The recent pullback has allowed an overbought condition to unwind. Support to watch is 134.09, the 20-day EMA.
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