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(M4) Fresh Trend Low

BUND TECHS
  • RES 4: 134.15 High Mar 8 and a bull trigger
  • RES 3: 133.48 High Mar 27
  • RES 2: 133.05 High Apr 12
  • RES 1: 131.66 20-day EMA
  • PRICE: 130.16 @ 05:23 BST Apr 25
  • SUP 1: 130.03 Low Apr 22
  • SUP 2: 129.87 1.382 proj of the Mar 8 - 18 - 27 price swing
  • SUP 3: 129.57 1.50 proj of the Mar 8 - 18 - 27 price swing
  • SUP 4: 129.26 1.618 proj of the Mar 8 - 18 - 27 price swing

The trend outlook in Bund futures is unchanged and remains bearish. The contract traded to a fresh cycle low yesterday, confirming once again a resumption of the downtrend. Key support at 131.23, the Feb 29 low, has recently been cleared. Sights are on 129.87, a Fibonacci projection. On the upside, firm resistance is at 133.05, the Apr 12 high. Short-term gains would be considered corrective. First resistance is at 131.66, the 20-day EMA.

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