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(M3) Key Support Remains Exposed

BUND TECHS
  • RES 4: 140.30 High Mar 20 and the bull trigger
  • RES 3: 139.54 High Mar 24
  • RES 2: 136.88/138.09 High Apr 11 / 6 and key near-term resistance
  • RES 1: 135.84 20-day EMA
  • PRICE: 134.91 @ 05:18 BST Apr 14
  • SUP 1: 134.66 Low Apr 12
  • SUP 2: 134.15 61.8% retracement of the Mar 2 - 20 rally
  • SUP 3: 133.33 Low Mar 15
  • SUP 4: 132.70 76.4% retracement of the Mar 2 - 20 rally

Bund futures are trading at this week’s lows. Price is through the 20-day EMA, at 135.84 and has pierced key short-term support at 134.70, the Mar 31 low. A break of this level would signal scope for weakness towards 134.15, a Fibonacci retracement. For bulls, a move above 138.09, the Apr 6 high, is required to reinstate the recent bullish theme and would signal scope for gains above 138.00. Key resistance is still far off at 140.30, the Mar 20 high.

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