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(M3) Support At The 20-EMA Remains Intact

BUND TECHS
  • RES 4: 140.30 High Mar 20 and a key resistance
  • RES 3: 139.00 76.4% retracement of the Mar 20 - 23 sell-off
  • RES 2: 137.55/138.42 50.0% of the Mar 20 - 23 sell-off / High Mar 21
  • RES 1: 136.90 38.2% retracement of the Mar 20 - 23 sell-off
  • PRICE: 136.34 @ 05:13 GMT Mar 23
  • SUP 1: 134.84/80 20-day EMA / Low Mar 22
  • 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 lower Wednesday but managed to recover from session lows of 134.80. A key support at the 20-day EMA, which intersects at 134.84 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 is allowing a recent overbought condition to unwind. Initial firm resistance is seen at 137.55, a Fibonacci retracement.

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