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(H3) Pullback Considered Corrective

  • 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: 140.65 @ 05:08 GMT Dec 14
  • SUP 1: 139.77 Low Dec 12
  • SUP 2: 139.62 Low Nov 29
  • SUP 3: 139.13 Low Nov 28 and a key short-term support
  • SUP 4: 138.34 Low Nov 18

The Bund futures trend direction remains up and the latest pullback is considered corrective. 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. A positive price sequence of higher highs and higher lows also remains intact. A resumption of gains would open 143.00. Firm support has been defined at 139.13, Nov 28 low.

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