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(H3) Trend Needle Points South

BUND TECHS
  • RES 4: 137.38 High Feb 9
  • RES 3: 136.54 50-day EMA
  • RES 2: 136.00 Round number resistance
  • RES 1: 135.38 20-day EMA
  • PRICE: 133.52 @ 04:37 GMT Feb 28
  • SUP 1: 133.40 Low Feb 27
  • SUP 2: 132.70 Lower 2.0% Bollinger Band
  • SUP 3: 132.60 Low Jan 2 and key support
  • SUP 4: 131.80 2.0% 10-dma envelope

Bund futures remain in a downtrend and attention is on initial support at 133.63, the Feb 22 low. This level was pierced Monday, a clear break would confirm a resumption of the current bear leg and pave the way for a move towards 132.60, the Jan 2 low. Moving average studies are in a bear-mode position highlighting the current market sentiment. Initial resistance to watch is at 135.38, the 20-day EMA.

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