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(H1) Clears All Retracements
- RES 4: 178.44 High Dec 21
- RES 3: 178.37 High Jan 4 and key resistance
- RES 2: 178.27 High Jan 5
- RES 1: 177.96 High Jan 14
- PRICE: 177.83 @ 05:24 GMT Jan 15
- SUP 1: 177.32 Low Jan 14
- SUP 2: 176.72 Low Jan 13
- SUP 3: 176.34 Low Jan 12 and the bear trigger
- SUP 4: 176.19 1.236 proj of the Dec 11 - 23 sell-off from Jan 4 high
Bund futures traded higher again yesterday as the contract retraces the recent move lower between Jan 4 - 12. Price has cleared all key retracement levels. This suggests potential for a stronger climb, with the focus on 178.00 and more importantly on the 178.37 high from Apr 4. Yesterday's high of 177.96 marks the intraday bull trigger. On the downside, initial support lies at yesterday's low of 177.32.
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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.