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BUND TECHS: (H5) Corrective Bull Cycle Still In Play

BUND TECHS
Fixed Income Technical AnalysisCredit BulletsBundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletMarketsFixed Income Bullets
  • RES 4: 133.86 High Jan 2              
  • RES 3: 133.10 50-day EMA 
  • RES 2: 132.57 High Jan 6
  • RES 1: 132.04/22 20-day EMA / High Jan 22                 
  • PRICE: 131.59 @ 05:34 GMT Jan 29
  • SUP 1: 131.00 Low Jan 16 / 24        
  • SUP 2  131.00/130.28 Low Jan 16 / Low Jan 15 and the bear trigger           
  • SUP 3: 130.44 Low Jul 5 ‘24 (cont)
  • SUP 4: 130.23 Low Jul 3 ‘24 (cont)      

Bund futures are trading below their recent highs. The pullback appears corrective and a S/T bull cycle is in play. The Jan 15 rally highlighted a reversal signal - a bullish engulfing candle. It continues to suggest scope for a corrective phase that is allowing an oversold trend condition to unwind. Sights are on 132.04, the 20-day EMA. A clear breach of the average would strengthen the bullish theme. The bear trigger is 130.28, the Jan 15 low.

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  • RES 4: 133.86 High Jan 2              
  • RES 3: 133.10 50-day EMA 
  • RES 2: 132.57 High Jan 6
  • RES 1: 132.04/22 20-day EMA / High Jan 22                 
  • PRICE: 131.59 @ 05:34 GMT Jan 29
  • SUP 1: 131.00 Low Jan 16 / 24        
  • SUP 2  131.00/130.28 Low Jan 16 / Low Jan 15 and the bear trigger           
  • SUP 3: 130.44 Low Jul 5 ‘24 (cont)
  • SUP 4: 130.23 Low Jul 3 ‘24 (cont)      

Bund futures are trading below their recent highs. The pullback appears corrective and a S/T bull cycle is in play. The Jan 15 rally highlighted a reversal signal - a bullish engulfing candle. It continues to suggest scope for a corrective phase that is allowing an oversold trend condition to unwind. Sights are on 132.04, the 20-day EMA. A clear breach of the average would strengthen the bullish theme. The bear trigger is 130.28, the Jan 15 low.