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(H1) Probes Key Support

BUND TECHS
  • RES 4: 178.12 High Jan 27 and the bull trigger
  • RES 3: 177.66 High Jan 29
  • RES 2: 177.30 20-day EMA
  • RES 1: 176.48/70 Intraday high / High Feb 3
  • PRICE: 175.97 @ 14:27 GMT Feb 5
  • SUP 1: 176.63 Intraday low
  • SUP 2: 175.61 1.236 proj of Jan 4 - 12 sell-off from Jan 27 high
  • SUP 3: 175.31 1.382 proj of Jan 4 - 12 sell-off from Jan 27 high
  • SUP 4: 175.07 1.50 proj of Jan 4 - 12 sell-off from Jan 27 high

Bund futures remain weak and have today extended the recent strong sell-off. The contract Tuesday traded through support at 176.89, Jan 29 low and a short-term trendline support at 176.88, drawn off the Jan 12 low. Yesterday saw price trade below the key support at 176.34, Jan 12 low and today support at 175.84, Nov 11 low has been probed. The focus shifts to 175.31, a Fibonacci projection. Initial resistance is seen at 176.48.

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