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(H4) Trading Below Last Week’s High

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 1 and the bull trigger
  • PRICE: 134.78 @ 05:10 GMT Feb 5
  • SUP 1: 134.55 50.0% of the Jan 25 - Feb 1 rally Jan 30 /
  • SUP 2: 133.55 Low 25 and the bear trigger
  • SUP 3: 132.89 50.0% retracement of the Oct 4 - Dec 27 bull phase
  • SUP 4: 132.29 Low Nov 29

Bund futures faced resistance on Friday and the contract is trading below its recent highs. A continuation lower would further undermine the recent bullish theme and expose key short-term support at 133.55, the Jan 25 low. A break of this level would strengthen a bearish threat. For bulls, clearance of last week’s high at 136.29 (Feb 1), is required to reinstate the recent bullish theme.

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