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(M2) Trend Needle Still Pointing South

BUND TECHS
  • RES 4: 162.73 High Mar 14
  • RES 3: 161.81 High Mar 16
  • RES 2: 160.31 High Mar 23
  • RES 1: 159.79 High Apr 4 and key short-term resistance
  • PRICE: 157.01 @ 04:56 BST Apr 8
  • SUP 1: 156.40 Low Apr 7
  • SUP 2: 156.05/00 Low Mar 29 / Round number support
  • SUP 3: 155.70 Low Dec 7 2015 (cont)
  • SUP 4: 155.03 Low Dec 4 2015 (cont)

Bunds are trading closer to this week’s lows and the recent corrective phase appears to be over. The primary trend is down. Moving average studies are in a bear mode and a broader bearish price sequence of lower lows and lower highs, that has unfolded since Aug / Sep 2019, remains intact. A continuation lower would open 156.00 and below. Firm resistance is at 159.79, the Apr 4 high where a break is required to signal a possible base.

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