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Free AccessBUND TECHS: (Z4) Holding On To Its Recent Gains
- RES 4: 135.66 High Aug 5 and the bull trigger
- RES 3: 134.95 76.4% retracement of the Aug 5 - Sep 2 bear leg
- RES 2: 134.50 High Aug 22
- RES 1: 134.23 High Sep 4
- PRICE: 134.10 @ 05:35 BST Sep 5
- SUP 1: 133.56 20-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 have recovered from Monday’s low and from levels just below support at the 50-day EMA, at 132.99. Recent short-term weakness appears to have been a correction and this has allowed an overbought condition to unwind. First resistance is 134.50, the Aug 22 high, where a break would strengthen a near-term bullish condition. On the downside, a clear break of the 50-day EMA would highlight scope for a deeper retracement.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.