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(H2) Bullish Tone Remains Intact

BUND TECHS
  • RES 4: 172.50 76.4% retracement of Dec 8 - Feb 16 downleg
  • RES 3: 172.00 Round number resistance
  • RES 2: 171.53 High Jan 3
  • RES 1: 170.94/171.12 61.8% of Dec 8 - Feb 16 downleg / High Mar 1
  • PRICE: 169.89 @ 05:06 GMT Mar 4
  • SUP 1: 168.46 Low Mar 3
  • SUP 2: 167.31 Low Mar 1
  • SUP 3: 165.87/16 Low Feb 25 / Low Feb 22
  • SUP 4: 164.34 Low Feb 16 and the bear trigger

Bund futures remain in a short-term uptrend following a sharp rally Tuesday. This resulted in a break of the 50-day EMA at 168.44. The average represented a key resistance area and the clear break of it signals scope for a continuation higher near-term. The focus is on 170.94 next, a Fibonacci retracement that was also probed Tuesday. A resumption of gains would open 172.00. Initial support is at 168.46, yesterday’s low.

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