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(H3) Trend Condition Remains Bullish

BUND TECHS
  • RES 4: 140.00 Round number resistance
  • RES 3: 138.97 61.8% retracement of the Dec 7 - Jan 3 bear leg
  • RES 2: 138.62 High Dec 16
  • RES 1: 137.47/76 High Jan 6 / 50.0% of the Dec 7 - Jan 3 bear leg
  • PRICE: 136.62 @ 05:14 GMT Jan 11
  • SUP 1: 135.74 Low Jan 6
  • SUP 2: 135.08 Low Jan 4 and a key short-term support
  • SUP 3: 133.79 Low Jan 3
  • SUP 4: 132.60 Low Jan 2 and the bear trigger

Bund futures remain in an uptrend following last week’s gains and despite pulling back from its recent highs. Price has traded through the 20-day EMA and short-term signals suggest scope for a continuation higher near-term. Sights are on 137.76 next and if this level is cleared, it would open 138.97 further out - Fibonacci retracement levels. On the downside, initial firm support is at 135.08, the Jan 4 low.

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