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(M1) Shooting Star Candle Still In Play

BUND TECHS
  • RES 4: 173.46 High Dec 12
  • RES 3: 172.83 Low May 5
  • RES 2: 175.51 High Feb 16
  • RES 1: 172.30 High Mar 11
  • PRICE: 171.32 @ 05:05 GMT Mar 15
  • SUP 1: 170.72 Low Mar 5
  • SUP 2: 170.37 61.8% retracement of the Feb 25 - Mar 11 rally
  • SUP 3: 169.94 76.4% retracement of the Feb 25 - Mar 11 rally
  • SUP 4: 169.24 Low Feb 25 and the bear trigger

Bund futures traded lower Friday extending the pullback from 172.30, Mar 11 high. The failure at 172.30 last week defines this level as a key short-term resistance, where a break is required to trigger stronger gains. While it holds, a bearish risk remains present and fresh weakness would suggest scope for a retest of 169.24, Feb 25 low. Note, the pattern on Mar 11 is a shooting star candle, reinforcing the current bearish theme.

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