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(H2) Probes Resistance

BUND TECHS
  • RES 4: 171.99 50.0% retracement of the Aug 12 - Jan 19 downleg
  • RES 3: 171.77 Low Nov 24 and recent breakout level
  • RES 2: 171.64 50-day EMA
  • RES 1: 170.74 High Jan 25
  • PRICE: 170.20 @ 04:58 GMT Jan 24
  • SUP 1: 169.92 Low Jan g20
  • SUP 2: 168.95 Low Jan 19
  • SUP 3: 168.84 3.764 proj of the Dec 8 - Dec 20 price swing
  • SUP 4: 168.46 4.00 proj of the Dec 8 - Dec 20 price swing

Bund futures traded higher again yesterday and probed key short-term resistance at 171.00, the Jan 13 high. A clear break of this hurdle would signal potential for a stronger short-term recovery and open the 50-day EMA at 171.64. Broader trend conditions remain bearish. A resumption of weakness would instead refocus attention on the recent low and bear trigger at 168.95

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