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BUND TECHS: (Z4) MA Studies Highlight An Uptrend

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: 134.81 High Sep 6                    
  • PRICE: 133.96 @ 05:41 BST Sep 9
  • SUP 1: 133.70/09 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 gapped lower today and remain below Friday’s 134.81 high. The outlook remains bullish following last week’s rally and note that moving average studies are in a bull-mode position, highlighting an uptrend. A resumption of gains would open 134.95 next, a Fibonacci retracement. On the downside, a clear break of the 50-day EMA, at 133.09,  would highlight scope for a deeper retracement. First support is 133.70, the 20-day EMA.

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