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(M1) Correction Approaching 50-Day EMA

BUND TECHS
  • RES 4: 171.27 High Apr 22
  • RES 3: 170.98 High May 7 and key short-term resistance
  • RES 2: 170.48 50-day EMA
  • RES 1: 170.40 High May 26
  • PRICE: 170.25 @ 06:12 BST May 27
  • SUP 1: 169.02 Low May 24
  • SUP 2: 168.29 Low May 19 and the bear trigger
  • SUP 3: 168.09 0.764 proj of the Jan 27 - Feb 25 - Mar 25 price swing
  • SUP 4: 167.52 Low Mar 19, 2020 (cont)

Bund futures traded higher yesterday extending this week's gains above the 20-day EMA. The recent recovery is still considered a correction and attention turns to resistance at the 50-day EMA that intersects at 170.48. A break of this level would expose 170.98, May 7 high. On the downside, key support has been defined at 168.29, May 19 low where a breach would confirm a resumption of the downtrend.

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