April 23, 2024 04:39 GMT
(M4) Trend Condition Remains Bearish
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: 131.89 20-day EMA
- PRICE: 131.23 @ 05:22 BST Apr 23
- SUP 1: 130.52 Low Apr 22
- SUP 2: 130.25 1.236 proj of the Mar 8 - 18 - 27 price swing
- SUP 3: 130.00 Round number support
- SUP 4: 129.87 1.382 proj of the Mar 8 - 18 - 27 price swing
The trend outlook in Bund futures remains bearish and the contract traded to a fresh cycle low yesterday. Key support at 131.23, the Feb 29 low, has been cleared. This confirms a resumption of the downtrend. Attention is on 130.25, 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 131.89, the 20-day EMA.
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