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(M2) Corrective Pullback From Monday’s High Extends

BUND TECHS
  • RES 4: 170.66 0.764 proj of the Feb 25 - Mar 1 - Mar 3 price swing
  • RES 3: 170.00 Round number resistance
  • RES 2: 169.44 0.764 proj of the Feb 25 - Mar 1 - Mar 3 price swing
  • RES 1: 167.17/68.67 High Mar 8 / High Mar 7
  • PRICE: 164.89 @ 05:02 GMT Mar 9
  • SUP 1: 165.14 Intraday low
  • SUP 2: 164.39 Low Mar 1
  • SUP 3: 163.19 61.8% retracement of the Feb 10 - Mar 7 rally
  • SUP 4: 162.29 Low Feb 22

Bund futures remain in a short-term uptrend however the pullback from Monday’s high of 168.67 has extended Tuesday. The contract has breached support at 165.51, Mar 3 low to suggest potential for a deeper pullback. Further weakness would open 164.39, Mar 1 low and the next key short-term support. A rebound would ease the bearish pressure and signal a possible resumption of gains.

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