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(H0) Retracement Lower Still Likely......>

BUND TECHS
BUND TECHS: (H0) Retracement Lower Still Likely
*RES 4: 175.55 1.618 projection of the Jan 2 - Jan 8 rally from Jan 14 low
*RES 3: 175.30 High Jan 31 and key resistance
*RES 2: 174.86 76.4% retracement of the Jan 31 - Feb 6 decline
*RES 1: 174.69 High Feb 10
*PRICE: 174.27 @ 04:44 GMT Feb 13
*SUP 1: 173.72 Low Feb 12
*SUP 2: 173.41 Low Jan 27 and Jan 29
*SUP 3: 173.11 50-day EMA
*SUP 4: 172.60 Jan 24 low
H0 Bund found support yesterday but remains below it recent highs. From a
directional perspective, the near-term risk is bearish. This follows the
pullback in the first half of last week that marks an unwinding of the recent
overbought condition. Attention remains on 173.41, the Jan 27 and 29 low where a
break would confirm scope for a deeper pullback towards 173.11, an area of
support marked by the 50-day EMA. Resistance is at 174.69, the Feb 10 high.

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