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(H3) Pullback Considered Corrective

BUND TECHS
  • RES 4: 144.46 1.50 proj of the Oct 21 - 28 - Nov 8 price swing
  • RES 3: 143.68 1.382 proj of the Oct 21 - 28 - Nov 8 price swing
  • RES 2: 143.00 Round number resistance
  • RES 1: 141.94/142.91 High Dec 9 / 7 and the bull trigger
  • PRICE: 140.48 @ 05:11 GMT Dec 12
  • SUP 1: 140.27 Intraday low
  • SUP 2: 139.62 Low Nov 29
  • SUP 3: 136.13 Low Nov 28 and a key short-term support
  • SUP 4: 138.34 Low Nov 18

The Bund futures trend direction is up and the latest pullback is considered corrective. The cross traded higher last week. Resistance at 141.94, the Nov 24 high, has recently been breached and moving average studies have crossed, to highlight a bull mode condition. This signals a stronger reversal. Potential is seen for a climb to 143.00. Firm support has been defined at 139.13, the Nov 28 low.

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