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(H3) Pullback Still 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: 140.14 @ 05:05 GMT Dec 13
  • SUP 1: 139.96 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 - for now. 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. 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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