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(M3) Recovery Extends

BUND TECHS
  • RES 4: 140.30 High Mar 20 and the bull trigger
  • RES 3: 140.00 Round number resistance
  • RES 2: 137.85/139.54 High Mar 27 / 24
  • RES 1: 137.49 High Apr 5
  • PRICE: 137.17 @ 05:24 BST Apr 6
  • SUP 1: 135.87/134.70 20-day EMA / Low Mar 31 and the bear trigger
  • 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 traded higher Wednesday as the recovery from 134.70 extends. A continuation would signal scope for a test of 137.85, the Mar 27 high. Key resistance is still far off at 140.30, the Mar 20 high. On the downside, initial support to watch is 135.87, the 20-day EMA. The bear trigger lies at 134.70, a break would resume the recent bearish theme and open 134.15, a Fibonacci retracement.

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