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BUND TECHS: (Z4) Holding On To This Week’s Gains

BUND TECHS
  • RES 4: 136.00 Round number resistance         
  • RES 3: 135.66 High Aug 5 and the bull trigger
  • RES 2: 134.95 76.4% retracement of the Aug 5 - Sep 2 bear leg  
  • RES 1: 134.50 High Aug 22                   
  • PRICE: 134.28 @ 05:45 BST Sep 6
  • SUP 1: 133.61/03 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 have recovered from Monday’s low and from levels just below support at the 50-day EMA, at 132.99. The contract is trading at this week’s highs. First resistance is 134.50, the Aug 22 high, where a break would strengthen a near-term bullish condition. This would open 134.95, a Fibonacci retracement. On the downside, a clear break of the 50-day EMA would highlight scope for a deeper retracement.

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