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(M3) Clears The 50-Day EMA

  • RES 4: 138.09 High Apr 6
  • RES 3: 137.29 High May 11 and a key resistance
  • RES 2: 136.38 High May 16
  • RES 1: 135.88 High May 17
  • PRICE: 135.53 @ 05:18 BST May 31
  • SUP 1: 134.15 Low May 30
  • SUP 2: 132.83 Low May 26 and the bear trigger
  • SUP 3: 132.71 76.4%retracement of the Mar 2 - 20 rally
  • SUP 4: 132.37 Low Mar 10

Bund futures maintain a firmer tone as the contract extends this week’s recovery. Price has cleared the 20- and 50-day EMAs and this strengthens the current bull cycle. A continuation higher would open 136.38, the May 16 high ahead of a key resistance at 137.29, the May 11 high. On the downside, initial support lies at 134.15, the May 30 low. A break is required to signal bearish reversal.

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