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(M2) Resumes Its Downtrend

BUND TECHS
  • RES 4: 161.81 High Mar 16
  • RES 3: 160.31 High Mar 23
  • RES 2: 159.79 High Apr 4 and key short-term resistance
  • RES 1: 156.17/57.86 High Apr 14 / 20-day EMA
  • PRICE: 153.47 @ 13:53 BST Apr 19
  • SUP 1: 153.00 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 have traded lower today and this has confirmed a resumption of the primary downtrend, clearing former support at 154.27, Apr 12 low. This resumes the downtrend and confirms an extension of the bearish price sequence of lower lows and lower highs. Moving average studies are also in a bear mode. The focus is on 153.00 next ahead of 152.65, the Sep 1 2015 low (scont). Initial resistance is at 156.17, Apr 14 high.

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