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(M2) Trend Needle Continues To Point South

BUND TECHS
  • RES 4: 158.64 50-day EMA
  • RES 3: 157.87 High Apr 7
  • RES 2: 156.17 High Apr 14 and a key short-term resistance
  • RES 1: 155.56 20-day EMA
  • PRICE: 153.61 @ 04:58 BST May 3
  • SUP 1: 153.05/153.00 Low Apr 22 / 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

The trend needle in Bund futures continues to point south. Fresh cycle lows in April, reinforce a bearish theme. The move lower confirmed an extension of the bearish price sequence of lower lows and lower highs. Furthermore, moving average studies remain in a bear mode. Attention is on 153.00 next ahead of 152.65, the Sep 1 2015 low (cont). Firm resistance is unchanged at 156.17, the Apr 14 high.

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