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(M3) Recovery From Wednesday’s Low Extends

BUND TECHS
  • RES 4: 140.30 High Mar 20 and a key resistance
  • RES 3: 139.00 76.4% retracement of the Mar 20 - 22 sell-off
  • RES 2: 138.42 High Mar 21
  • RES 1: 138.20 61.8 retracement of the Mar 20 - 22 sell-off
  • PRICE: 137.77 @ 05:13 GMT Mar 24
  • SUP 1: 135.80 Low Mar 24
  • SUP 2: 134.84/80 20-day EMA / Low Mar 22
  • SUP 3: 134.15 61.8% retracement of the Mar 2 - 20 rally
  • SUP 4: 133.33 Low Mar 15

Bund futures have managed to recover from Wednesday's low of 134.80. A key support at the 20-day EMA, which intersects at 135.05 today, remains intact. A clear break of the average is required to signal scope for a deeper pullback. For now, the recent retracement down is considered corrective and the move lower has allowed an overbought condition to unwind. Initial firm resistance is seen at 138.42, the Mar 21 high.

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