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(M2) Consolidation Mode

BUND TECHS
  • RES 4: 157.87 High Apr 7
  • RES 3: 157.29 High Apr 8
  • RES 2: 155.89/156.00 50-day EMA and key resistance / High Apr 28
  • RES 1: 155.33 High May 12
  • PRICE: 153.74 @ Close of May 27
  • SUP 1: 151.89/150.49 Low May 18 / Low May 9
  • SUP 2: 150.15 0.764 proj of the Mar 7 - 29 - Apr 4 price swing
  • SUP 3: 150.00 Psychological round number
  • SUP 4: 149.49 Low Jul 13 2015 (cont)

Bund futures continue to trade broadly sideways and are below recent highs. The trend direction remains down. Recent fresh cycle lows have maintained the price sequence of lower lows and lower highs - the definition of a downtrend. Moving average studies are in a bear mode condition. A resumption of weakness would refocus attention on 150.49, the bear trigger. Firm trend resistance is unchanged at 156.00.

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