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(M2) Corrective Bounce

BUND TECHS
  • RES 4: 160.29/31 50-day EMA / High Mar 23
  • RES 3: 157.87 High Apr 7
  • RES 2: 159.79 High Apr 4 and key short-term resistance
  • RES 1: 156.17/157.20 High Apr 14 / 20-day EMA
  • PRICE: 154.45 @ 05:09 BST Apr 21
  • SUP 1: 153.25/153.00 Low Apr 20 / Round number support
  • SUP 2: 152.65 Low Sep 1 2015 (cont)
  • SUP 3: 151.99 0.618 proj of the Mar 7 - 29 - Apr 4 price swing
  • SUP 4: 150.15 0.764 proj of the Mar 7 - 29 - Apr 4 price swing

Bunds futures traded higher Wednesday. Gains are considered corrective and a bearish theme continues to dominate. Recent weakness has confirmed an extension of the bearish price sequence of lower lows and lower highs. Moving average studies are in a bear mode too. The focus is on 153.00 next ahead of 152.65, the Sep 1 2015 low (cont). Initial resistance is at 156.17, Apr 14 high.

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