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(M2) Remains In A Downtrend

BUND TECHS
  • RES 4: 164.43 High Mar 10
  • RES 3: 162.73 High Mar 14
  • RES 2: 160.31/161.02 High Mar 23 / 20-day EMA
  • RES 1: 158.67 High Mar 28
  • PRICE: 157.96 @ 05:09 GMT Mar 30
  • SUP 1: 156.05/00 Low Mar 29 / Round number support
  • SUP 2: 155.70 Low Dec 7 2015 (cont)
  • SUP 3: 155.03 Low Dec 4 2015 (cont)
  • SUP 4: 154.81 Low Nov 9 2015 (cont)

Bunds remain in a downtrend and the contract traded to a fresh cycle low yesterday, extending the recent break of the 160.00 handle. The continuation lower also confirms an extension of the broader bearish price sequence of lower lows and lower highs that has unfolded since Aug / Sep 2019. With bearish momentum conditions dominating, the focus is on the 156.00 handle next. Firm resistance is at 160.31, the Mar 23 high.

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