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(H1) Arrives At The 61.8% Retracement

BUND TECHS
  • RES 4: 178.37 High Jan 4 and key resistance
  • RES 3: 178.27 High Jan 5
  • RES 2: 177.89 76.4% retracement of the Jan 4 - 12 decline
  • RES 1: 177.60 High Jan 13
  • PRICE: 177.37 @ 05:06 GMT Jan 14
  • SUP 1: 176.72 Low Jan 13
  • SUP 2: 176.34 Low Jan 12 and the bear trigger
  • SUP 3: 176.19 1.236 proj of the Dec 11 - 23 sell-off from Jan 4 high
  • SUP 4: 175.94 1.382 proj of the Dec 11 - 23 sell-off from Jan 4 high

Bund futures traded higher yesterday as the contract retraces the recent move lower between Jan 4 - 12. Price has thus far stalled at the 61.8% retracement of this sell-off - yesterday's high was 177.60 and the retracement is at 177.59. A failure at this level and a turn lower, would refocus attention on Tuesday's 176.34 low. Clearance of yesterday's high would instead allow for a stronger recovery and open 177.89, the 76.4% retracement.

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