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(H4) Remains Soft

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: 134.27/136.29 20-day EMA / High Feb 1 and the bull trigger
  • PRICE: 134.00 @ 05:18 GMT Feb 15
  • SUP 1: 132.77 Low Feb 14
  • SUP 2: 132.29 Low Nov 29
  • SUP 3: 131.49 61.8% retracement of the Oct 4 - Dec 27 bull phase
  • SUP 4: 130.47 Low Nov 24

Bund futures remain in a bear mode condition and short-term gains are considered corrective. The contract has recently breached key short-term support at 133.55, the Jan 25 low, to confirm a resumption of the bear cycle that started Dec 27. The focus is on 132.29 next, the Nov 29 low. For bulls, clearance of 136.29, the Feb 1 high, is required to signal a reversal. Initial resistance is at 134.27, the 20-day EMA.

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