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(H1) Tests Key Resistance

  • RES 4: 178.44 High Dec 21
  • RES 3: 178.37 High Jan 4 and a key resistance
  • RES 2: 178.27 High Jan 5
  • RES 1: 177.96 High Jan 14
  • PRICE: 177.52 @ 04:42 GMT Jan 27
  • SUP 1: 177.30 50.0% retracement of the Jan 22 - 26 bounce
  • SUP 2: 177.12 Low Jan 25
  • SUP 3: 176.63 Low Jan 22
  • SUP 4: 176.34 Low Jan 12 and the bear trigger

Bund futures started the week firm rallying sharply and extending the bounce off Friday's 176.63 low. The contract traded higher yesterday testing resistance at 177.96, Jan 14 high. A clear break of this hurdle would reinforce a bullish picture and open 178.37, Jan 4 high. On the downside, initial support is seen at 177.30, a retracement level. Price however needs to move below Monday's 177.12 low to reinstate a bearish theme.

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