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(H1) Resistance Remains Intact

BUND TECHS
  • RES 4: 178.77 High Dec 11
  • RES 3: 178.44 High Dec 21 and key near-term resistance
  • RES 2: 178.18 High Dec 23
  • RES 1: 177.90 76.4% of the Dec 23 range
  • PRICE: 177.73 @ 05:17 GMT Dec 30
  • SUP 1: 177.01 Low Dec 23
  • SUP 2: 176.83 Low Dec 3
  • SUP 3: 176.63 Low Dec 2 and the near-term bear trigger
  • SUP 4: 176.53 76.4% retracement of the Nov 11 - Dec 11 rally

Bund futures traded sharply lower Dec 23 piercing trendline support drawn off the Nov 11 low in the process. This has highlighted a bearish tone with a key short-term resistance defined at 178.44, Dec 21 high. Attention is on 177.01, Dec 23 low where a break would trigger further weakness and open 176.43, Dec 2 low and a bear trigger. On the upside, clearance of 178.18, Dec 23 high would ease the bearish threat. A break of 178.44 would be bullish.

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