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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: 140.10 Intraday high
  • PRICE: 139.65 @ 07:55 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. The 140.00 psychological handle has been pierced, a clear break would open 140.47, a Fibonacci retracement. 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 is 137.10, today’s low.

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