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BUND TECHS: (Z4) Corrective Cycle Still In Play

BUND TECHS
Fixed Income Technical AnalysisCredit BulletsBundesbankCentral 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: 135.01/135.49 High Sep 24 / 11                     
  • PRICE: 134.51 @ 07:15 BST Sep 27
  • SUP 1: 133.92/74 Low Sep 20 / 50-day EMA             
  • 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 below their recent highs, with yesterday’s rally faltering ahead of the close. The latest move down - a correction - has resulted in a breach of the 20-day EMA. This does signal scope for a deeper retracement near-term, potentially towards the 50-day EMA, at 133.74. Clearance of this average would undermine a bullish theme. For bulls, a stronger reversal higher would refocus attention on key resistance and the bull trigger at 135.66, the Aug 5 high.         

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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: 135.01/135.49 High Sep 24 / 11                     
  • PRICE: 134.51 @ 07:15 BST Sep 27
  • SUP 1: 133.92/74 Low Sep 20 / 50-day EMA             
  • 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 below their recent highs, with yesterday’s rally faltering ahead of the close. The latest move down - a correction - has resulted in a breach of the 20-day EMA. This does signal scope for a deeper retracement near-term, potentially towards the 50-day EMA, at 133.74. Clearance of this average would undermine a bullish theme. For bulls, a stronger reversal higher would refocus attention on key resistance and the bull trigger at 135.66, the Aug 5 high.