May 20, 2024 04:53 GMT
(M4) Support Remains Intact For Now
BUND TECHS
- RES 4: 133.05 High Apr 12
- RES 3: 132.89 38.2% retracement of the Dec 27 - Apr 25 bear cycle
- RES 2: 132.55 High Apr 15
- RES 1: 131.65/132.11 50-day EMA / High Apr 16 and the bull trigger
- PRICE: 130.72 @ 05:37 BST May 20
- SUP 1: 131.60 Low May 15
- SUP 2: 130.24 Low May 14 and a key short-term support
- SUP 3: 129.83 Low Apr 30
- SUP 4: 129.53 Low Apr 25 and a bear trigger
Bund futures remain below last week’s high. The rally last Wednesday resulted in a print above the 50-day EMA and a breach of a key resistance at 131.86, the May 7 high. This continues to highlight a potential reversal, however a break of 132.11, the May 16 high, is required to reinforce a bullish condition. For bears, a breach of support at 130..24, May 14 low, would instead expose the key support and bear trigger at 129.53, the Apr 25 low.
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