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(M1) Needle Still Points North

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: 172.78 0.764 proj of the Feb 25 - Mar 11 - Mar 18 price swing
  • RES 1: 172.66 High Mar 25
  • PRICE: 172.04 @ 05:07 GMT Mar 29
  • SUP 1: 171.73 20-day EMA
  • SUP 2: 171.42 Low Mar 23
  • SUP 3: 170.52 Low Mar 18 and key support
  • SUP 4: 170.00 Round number support

Bund futures traded lower Friday. Despite this, a positive short-term tone remains intact. Key resistance at 172.20, Mar 11 high has been cleared. The break last week represents an important S/T bullish development and confirms the end of the recent period of consolidation. Also, this has confirmed a resumption of the upleg that started Feb 25. The focus is on 172.78 next, a Fibonacci projection. Key support has been defined at 170.52.

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