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BTP TECHS

(M1) Testing Key Support

GILT TECHS

(M1) Downtrend Remains Intact

SCHATZ TECHS

(M1) Bearish Theme

BOBL TECHS

(M1) Bearish Risk Remains Present

BUND TECHS

(M1) Remains Below Resistance At 172.12

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  • RES 4: $1514.44 - 2.236 proj of Oct 29 - Nov 25 rally from Dec 2 low
  • RES 3: $1475.00 - 2.00 proj of Oct 29 - Nov 25 rally from Dec 2 low
  • RES 2: $1460.00 - High Mar 8 and the bull trigger
  • RES 1: $1456.25 - Apr 1 high
  • PRICE: $1423.00 @ 13:44 GMT Apr 7
  • SUP 1: $1364.25 - Low Mar 30 and key near-term support
  • SUP 2: $1336.75 - Low Feb 11
  • SUP 3: $1297.00 - Low Feb 25
  • SUP 4: $1244.00 - Low Dec 29

Soybean futures rallied Mar 31. The recovery defines a key short-term support at $1364.25, Mar 30 low and means the 50-day EMA area of support has also remained intact - the MA was probed last week. Attention is on $1460.00, Mar 8 high where a break would confirm a resumption of the underlying uptrend. This would open $1475.00, a Fibonacci projection. On the downside, sub $1364.25 levels would signal scope for a S/T correction.