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BUND TECHS: (H5) Approaching Key Support

BUND TECHS
Fixed Income Technical AnalysisCredit BulletsBundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletMarketsFixed Income Bullets
  • RES 4: 137.75 Low Dec 10            
  • RES 3: 135.15 High Dec 13 
  • RES 2: 134.30 20-day EMA
  • RES 1: 133.48 High Jan 3                
  • PRICE: 132.36 05:51 GMT Jan 6
  • SUP 1: 132.22 Intraday low    
  • SUP 2  132.00 Low Nov 6 and key support               
  • SUP 3: 130.78 123..6% retracement of the Nov 6 - Dec 2 bull leg
  • SUP 4: 130.00 Psychological round number     

The trend cycle in Bund futures remains bearish and last Friday’s sell-off reinforces this theme. The contract has recently traded through 133.22, 76.4% of the Nov 6 - Dec 2 bull cycle. This has opened key support at 132.00, the Nov 6 low. Clearance of this level would strengthen a bearish theme. Initial resistance is seen at 133.48, Friday’s high. Key short-term resistance is at 134.30, the 20-day EMA.

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  • RES 4: 137.75 Low Dec 10            
  • RES 3: 135.15 High Dec 13 
  • RES 2: 134.30 20-day EMA
  • RES 1: 133.48 High Jan 3                
  • PRICE: 132.36 05:51 GMT Jan 6
  • SUP 1: 132.22 Intraday low    
  • SUP 2  132.00 Low Nov 6 and key support               
  • SUP 3: 130.78 123..6% retracement of the Nov 6 - Dec 2 bull leg
  • SUP 4: 130.00 Psychological round number     

The trend cycle in Bund futures remains bearish and last Friday’s sell-off reinforces this theme. The contract has recently traded through 133.22, 76.4% of the Nov 6 - Dec 2 bull cycle. This has opened key support at 132.00, the Nov 6 low. Clearance of this level would strengthen a bearish theme. Initial resistance is seen at 133.48, Friday’s high. Key short-term resistance is at 134.30, the 20-day EMA.