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(M4) Testing Resistance At The 50-Day EMA

BUND TECHS
  • RES 4: 134.78 50.0% retracement of the Dec 27 - Feb 29 bear cycle
  • RES 3: 134.18 High Feb 7
  • RES 2: 133.74 High Feb 15
  • RES 1: 133.52 High Mar 5
  • PRICE: 133.26 @ 05:27 GMT Mar 6
  • SUP 1: 132.08 Low Mar 4
  • SUP 2: 131.23 Low Feb 29 and the bear trigger
  • SUP 3: 131.00 Round number support
  • SUP 4: 129.98 Bear channel base drawn from the Dec 27 high

Bund futures traded higher Tuesday and in the process, the contract pierced 133.27, the 50-day EMA. A clear break of this average would signal scope for an extension and open 134.18, the Feb 15 high. Note that a break higher would also result in a bear channel breakout - drawn from the Dec 27 high. A clear breach of the 50-day EMA would also potentially highlight a reversal. On the downside, the bear trigger lies at 131.23 the Feb 29 low.

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