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(H1) Volatile But Trendline Support Remains 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: 178.44 High Dec 21
  • PRICE: 177.79 @ 04:54 GMT Dec 22
  • SUP 1: 177.37/27 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 traded in a volatile manner yesterday. Price action remains above trendline support drawn off the Nov 11 low. The trendline intersects at 177.37. 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 178.44, yesterday's high. A clear breach 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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