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(H1) Firmer With Trendline Support Intact

BUND TECHS
  • RES 4: 179.17 High Nov 4
  • RES 3: 178.89 1.00 proj of Nov 11 - 30 rally from Dec 2 low
  • RES 2: 178.77 High Dec 11
  • RES 1: 178.31 High Dec 16
  • PRICE: 178.07 @ 04:50 GMT Dec 21
  • SUP 1: 177.31/27 Trendline support / Low Dec 16
  • SUP 2: 177.14 76.4% retracement of the Dec 2 - 11 rally
  • SUP 3: 176.83 Low Dec 3
  • SUP 4: 176.63 Low Dec 2 and the near-term bear trigger

Bund futures are firmer this morning. Last week's sell-off failed to clear trendline support drawn off the Nov 11 low. The trendline intersects at 177.31. A break of this trendline is required to strengthen a bearish case and open 176.63, the Dec 2 low. On the upside, initial firm resistance is at 178.31, Dec 16 high. Clearance of this level would refocus attention 178.77, Dec 11 high where a break resumes the uptrend that started Nov 11.

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