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BUND TECHS: (Z4) Bull Cycle Still In Play

BUND TECHS
Fixed Income Technical AnalysisCredit BulletsBundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletGlobalFixed Income BulletsRegionMarkets
  • RES 4: 136.37 1.236 retracement proje 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: 135.13 @ 05:33 BST Sep 12
  • SUP 1: 134.01/133.30 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 traded higher yesterday and this 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. On the downside, initial firm support lies at 134.01, the 20-day EMA. A break of this average would highlight a potential reversal.

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  • RES 4: 136.37 1.236 retracement proje 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: 135.13 @ 05:33 BST Sep 12
  • SUP 1: 134.01/133.30 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 traded higher yesterday and this 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. On the downside, initial firm support lies at 134.01, the 20-day EMA. A break of this average would highlight a potential reversal.