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(H4) Trend Needle Points South

BUND TECHS
  • RES 4: 135.88 High Feb 2
  • RES 3: 134.60 High Feb 7
  • RES 2: 133.93 50-day EMA
  • RES 1: 133.52 20-day EMA
  • PRICE: 132.53 @ 05:16 GMT Feb 27
  • SUP 1: 131.78 Low Feb 22 and the bear trigger
  • SUP 2: 131.49 61.8% retracement of the Oct 4 - Dec 27 bull phase
  • SUP 3: 130.47 Low Nov 24
  • SUP 4: 129.76 76.4% retracement of the Oct 4 - Dec 27 bull phase

Bund futures remain in a bear mode condition and gains are considered corrective. Moving average studies have recently crossed and are in a bear-mode set-up, highlighting a downtrend, The focus is on 131.49 next, the 61.8% retracement of the Oct 4 - Dec 27 bull phase. Clearance here would strengthen a bearish theme. For bulls, a break of 136.29, the Feb 1 high, is required to signal a reversal. Initial resistance is 133.52, the 20-day EMA.

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