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(H4) Breaches Resistance

BUND TECHS


  • RES 4: 137.96 High Jan 4
  • RES 3: 137.59 76.4% retracement of the Dec 27 - Jan 25 bear leg
  • RES 2: 136.82 61.8% retracement of the Dec 27 - Jan 25 bear leg
  • RES 1: 136.29 High Feb 01
  • PRICE: 135.71 @ 05:23 GMT Feb 2
  • SUP 1: 134.37/133.55 Low Jan 30 / 25 and the bear trigger
  • SUP 2: 133.42 Low Dec 4
  • SUP 3: 132.89 50.0% retracement of the Oct 4 - Dec 27 bull phase
  • SUP 4: 132.29 Low Nov 30

Bund futures are holding on to the bulk of their latest gains. The recent rally suggests the current bull cycle is likely to extend. The contract has breached resistance at 136.16, the Jan 5 / 8 high. A continuation higher would open 136.82, a Fibonacci retracement point. On the downside a reversal lower would instead refocus attention on the key support at 133.55, the Jan 25 low. This level is the bear trigger.

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