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(H3) Trades Through Support

BUND TECHS
  • RES 4: 142.59 0.764 proj of the Jan 2 - 19 - 30 price swing
  • RES 3: 141.70 High Dec 13
  • RES 2: 140.73 High Jan 19 and the bull trigger
  • RES 1: 137.83/139.86 50-day EMA / High Feb 2
  • PRICE: 136.29 @ 05:12 GMT Feb 8
  • SUP 1: 135.86 Low Feb 7
  • SUP 2: 135.71 61.8% retracement of the Jan 2 - 19 bull run
  • SUP 3: 135.08 Low Jan 4
  • SUP 4: 134.52 76.4% retracement of the Jan 2 - 19 bull run

Bund futures traded lower Tuesday and remain at their recent lows. The contract has breached support at 136.38, the Jan 30 low and this strengthens the current bearish cycle. The focus is on 135.71 next, a Fibonacci retracement point. Moving average studies are in a bear-mode position, reinforcing current conditions. On the upside, resistance to watch is at 137.83, the 50-day EMA.

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