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(M3) Bull Run Extends

BUND TECHS
  • RES 4: 141.06 High Dec 14 (cont)
  • RES 3: 140.73 High Jan 19 (cont)
  • RES 2: 140.47 76.4% retracement of the Dec 7 - Mar 9 bear leg (cont)
  • RES 1: 140.00 Psychological round number
  • PRICE: 139.59 @ 06:56 GMT Mar 20
  • SUP 1: 137.10 Intraday low
  • SUP 2: 135.73 Low Mar 16136.56
  • SUP 3: 134.30 20-day EMA
  • SUP 4: 133.33 Low Mar 15

Bund futures traded higher Friday, breaching 138.00 and the contract has started this week on firm note. The near-term outlook remains bullish. A continuation higher would pave the way for strength towards the 140.00 psychological handle next. Key support to watch this week lies at the 20-day EMA. A reversal lower and a break of this support is required to signal scope for a deeper retracement. Initial support to watch is 137.10, today’s low.

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