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Free Access(H0) Fresh Trend Low *RES 4: 173.30......>
BUND TECHS: (H0) Fresh Trend Low
*RES 4: 173.30 High Dec 4
*RES 3: 172.92/99 T-line resistance drawn off the Sep 3 high / High Dec 12
*RES 2: 172.43 High Dec 16 and a key resistance
*RES 1: 171.88 High Dec 30
*PRICE: 170.68 @ 04:49 GMT Jan 2
*SUP 1: 170.42 Low Dec 30
*SUP 2: 170.75 Dec 13 low
*SUP 3: 170.06 1.618 projection of Nov 28 - Dec 3 decline from Dec 4 high
*SUP 4: 169.77 1.764 projection of Nov 28 - Dec 3 decline from Dec 4 high
H0 Bund traded through key support at 170.75, Dec 13 low earlier this week to
register a fresh trend low of 170.42. This is an important break as it confirms
a resumption of the downtrend that has been in place since mid-August.
Corrections over December were short-lived and subsequent reversals lower more
impulsive, reinforcing the current bearish theme. Potential is for a move
towards 170.06 next. Initial resistance is at 171.88, Dec 23 high.
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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.