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BUND TECHS: (Z4) Bull Cycle Intact

BUND TECHS
Fixed Income Technical AnalysisBundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletGlobalFixed Income BulletsRegionMarkets
  • RES 4: 136.37 1.236 retracement proj of the Aug 5 - Sep 2 bear leg         
  • RES 3: 136.00 Round number resistance
  • RES 2: 135.66 High Aug 5 and the bull trigger 
  • RES 1: 135.49 High Sep 11                     
  • PRICE: 135.01 @ 05:28 BST Sep 17
  • SUP 1: 134.23/133.47 20- and 50-day EMA values             
  • SUP 2: 132.65 Low Sep 2 and the bear trigger 
  • SUP 3: 132.25 Low Jul 29 
  • SUP 4: 131.66 Low Jul 26

Bund futures continue to trade closer to their recent highs. Recent gains confirmed a resumption of the bull cycle that started Sep 2. The contract has breached 134.95, 76.4% of the Aug 5 - Sep 2 bear leg, exposing the key resistance and bull trigger at 135.66, the Aug 5 high. Clearance of this level would strengthen a bullish theme. The 20-day EMA marks the Initial firm support, at 134.23. A break of this EMA would highlight a potential reversal.

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  • RES 4: 136.37 1.236 retracement proj of the Aug 5 - Sep 2 bear leg         
  • RES 3: 136.00 Round number resistance
  • RES 2: 135.66 High Aug 5 and the bull trigger 
  • RES 1: 135.49 High Sep 11                     
  • PRICE: 135.01 @ 05:28 BST Sep 17
  • SUP 1: 134.23/133.47 20- and 50-day EMA values             
  • SUP 2: 132.65 Low Sep 2 and the bear trigger 
  • SUP 3: 132.25 Low Jul 29 
  • SUP 4: 131.66 Low Jul 26

Bund futures continue to trade closer to their recent highs. Recent gains confirmed a resumption of the bull cycle that started Sep 2. The contract has breached 134.95, 76.4% of the Aug 5 - Sep 2 bear leg, exposing the key resistance and bull trigger at 135.66, the Aug 5 high. Clearance of this level would strengthen a bullish theme. The 20-day EMA marks the Initial firm support, at 134.23. A break of this EMA would highlight a potential reversal.