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BUND TECHS: (H5) Retracement Mode Intact

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: 134.59 20-day EMA
  • RES 1: 133.79 High Dec 27                
  • PRICE: 133.44 @ Close Dec 30
  • SUP 1: 132.71 Low Dec 30   
  • 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 sharp sell-off reinforces current conditions. The contract has traded through 133.22, 61.8% of the Nov 6 - Dec 2 bull cycle. This paves the way for an extension towards key support at 132.00, the Nov 6 low. Initial resistance is seen at 133.79, the Dec 27 high. Key short-term resistance is at 134.59, the 20-day EMA. Gains are considered corrective - for now.

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  • RES 4: 137.75 Low Dec 10            
  • RES 3: 135.15 High Dec 13 
  • RES 2: 134.59 20-day EMA
  • RES 1: 133.79 High Dec 27                
  • PRICE: 133.44 @ Close Dec 30
  • SUP 1: 132.71 Low Dec 30   
  • 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 sharp sell-off reinforces current conditions. The contract has traded through 133.22, 61.8% of the Nov 6 - Dec 2 bull cycle. This paves the way for an extension towards key support at 132.00, the Nov 6 low. Initial resistance is seen at 133.79, the Dec 27 high. Key short-term resistance is at 134.59, the 20-day EMA. Gains are considered corrective - for now.