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(H3) Has Pierced A Key Short-Term Support

BUND TECHS
  • RES 4: 142.55 High Dec 8
  • RES 3: 141.70 High Dec 13
  • RES 2: 140.73 High Jan 19 and the bull trigger
  • RES 1: 138.62/139.36 High Jan 26 / 25 and key near-term resistance
  • PRICE: 137.50 @ 05:12 GMT Jan 27
  • SUP 1: 137.00 Round number support
  • SUP 2: 136.67 50.0% retracement of the Jan 2 - 19 bull run
  • SUP 3: 136.04 Low Jan 10
  • SUP 4: 135.71 61.8% retracement of the Jan 2 - 19 bull run

Bund futures are trading lower and have pierced support at 137.53, the Jan 16 low. The move lower threatens a recent bullish theme and a clear break of 137.53 would signal scope for a deeper retracement near-term. This would open 136.67, a Fibonacci retracement point. On the upside, key short-term resistance has been defined at 139.36, the Jan 25 high. A break of this hurdle would signal a base and a bullish reversal.

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