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(M3) Short-Term Trend Needle Points North

BUND TECHS
  • RES 4: 140.30 High Mar 20 and the bull trigger
  • RES 3: 140.00 Round number resistance
  • RES 2: 139.54 High Mar 24
  • RES 1: 138.09 High Apr 6
  • PRICE: 136.85 @ 04:55 BST Apr 11
  • SUP 1: 136.01/134.70 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 last week as the recovery from 134.70 extended. The short-term outlook appears bullish and a continuation higher would signal scope for gains above the 138.00 handle. Key resistance is still far off at 140.30, the Mar 20 high. On the downside, initial support to watch is 136.01, 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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