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(M1) Holding Onto Recent Gains

BUND TECHS
  • RES 4: 173.48 1.00 proj of the Feb 25 - Mar 11 - Mar 18 price swing
  • RES 3: 172.83 Low May 5
  • RES 2: 172.51 High Feb 16
  • RES 1: 172.41 High MAr 24
  • PRICE: 172.25 @ 05:02 GMT Mar 25
  • SUP 1: 171.42 Low Mar 23
  • SUP 2: 170.52 Low Mar 18 and key support
  • SUP 3: 170.00 Round number support
  • SUP 4: 169.24 Low Feb 25 and the bear trigger

Bund futures are trading closer to recent highs. Key resistance at 172.20, Mar 11 high has been probed this week. A clear break would represent an important short-term bullish development and signal the end of the recent period of consolidation. Also, a break higher would confirm a resumption of the upleg that started Feb 25. This would open 172.51, Feb 16 high ahead of the 173.00 handle. Key support has been defined at 170.52, Mar 18 low.

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