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Free Access(M18) Above 161.34 Targets 162.37-48.....>
BUND TECHS: (M18) Above 161.34 Targets 162.37-48
*RES 4: 162.48 High Dec 20 (Cont)
*RES 3: 162.37 100-WMA, High Dec 27 (Cont)
*RES 2: 162.04 2018 High Jan 8 (Cont)
*RES 1: 161.34 High May 25
*PREVIOUS CLOSE: 161.17
*SUP 1: 160.98 High Dec 11 now support
*SUP 2: 160.55 Hourly resistance May 25 now support
*SUP 3: 160.29 High May 24 now support
*SUP 4: 159.84 High May 23 now support
*COMMENTARY: Finding support ahead of 21 (158.92) & 55 (158.68) DMAs last week
provided the base for a rally to fresh 4mth highs and sees M18 flirting with the
55-WMA (161.31). Bulls look for a close above Friday's high to confirm a break
and target the 162.37-48 region where the 100-WMA is found. The Bollinger top
(160.40) is the key concern for bulls. Bears now need a close below 160.55 to
gain breathing room and below 160.29 to target a correction back to 158.50-92.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.