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(M1) Recovering From Recent Lows

BUND TECHS
  • RES 4: 172.34 High Mar 29
  • RES 3: 172.12 High Apr 8 and key near-term resistance
  • RES 2: 171.62 High Apr 14
  • RES 1: 171.25 20-day EMA
  • PRICE: 171.19 @ 05:15 BST Apr 22
  • SUP 1: 170.05 76.4% retracement of the Feb 25 - Mar 25 rally
  • SUP 2: 170.00 Round number support
  • SUP 3: 169.24 Low Feb 24 and major support
  • SUP 4: 168.96 0.618 proj of the Jan 27 - Feb 25 - Mar 25 price swing

Bund futures are recovering from Tuesday's low. The contract is approaching its 20-day EMA at 171.25. A break of this average would strengthen a short-term bullish theme and signal scope for a stronger recovery. This would open 171.62, Apr 14 high. The recent focus has been on the risk of an extension lower. Price needs to trade through the 171.05 Fibonacci retracement to resume bearish pressure.

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