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(H2) Weakening into Year-End

BUND TECHS
  • RES 4: 176.00 Round number resistance
  • RES 3: 175.57 1.618 proj of the Nov 11 - 22 - 24 price swing
  • RES 2: 175.29 1.50 proj of the Nov 11 - 22 - 24 price swing
  • RES 1: 174.44/75.02 High Dec 21 / High Dec 8 and the bull trigger
  • PRICE: 171.40 @ 07:32 GMT Dec 30
  • SUP 1: 171.31 Low Dec 30
  • SUP 2: 171.23 1.0% 10-dma envelope
  • SUP 3: 170.68 76.4% retracement Nov - Dec Upleg
  • SUP 4: 170.72 Low Nov 4

Bund futures trade lower into year-end, extending weakness through the 172.00 handle to touch new December lows headed into the new year. Support at the Nov26 and Nov24 lows has given way, putting prices at 171.31 - the lowest level since Nov04. This opens weakness toward 171.23, vol-based support, as well as 170.72 - the Nov04 low. On the upside, key resistance and the bull trigger is unchanged at 175.02, the Dec 8 high.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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