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(M2) Approaching The Psychological 160.00 Handle

BUND TECHS
  • RES 4: 165.29 High Mar 9
  • RES 3: 164.43 High Mar 10
  • RES 2: 163.23 20-day EMA
  • RES 1: 162.05/73 High Mar 15 / Mar 14
  • PRICE: 160.23 @ 14:19 GMT Mar 21
  • SUP 1: 160.00 Psychological round number
  • SUP 2: 159.81 123.6% retracement of the Feb 10 - Mar 7 rally
  • SUP 3: 159.19 Low Nov 8 2018 (cont)
  • SUP 4: 158.84 Low Oct 22 2018

Bunds have resumed their downtrend today and traded through last week’s low of 161.56. The break lower paves the way for weakness towards the psychological 160.00 handle. The continuation lower confirms an extension of the broader bearish price sequence of lower lows and lower highs that has unfolded since Aug / Sep 2019. A break of the 160.00 level would open 159.19, the Nov 8 2018 low (cont). Resistance is at 162.05.

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