April 29, 2024 04:38 GMT
(M4) Trend Needle Points South
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: 131.37 20-day EMA
- PRICE: 130.28 @ 05:23 BST Apr 29
- SUP 1: 129.53 Low Apr 25
- SUP 2: 129.26 1.618 proj of the Mar 8 - 18 - 27 price swing
- SUP 3: 129.00 Round number support
- SUP 4: 128.88 1.764 proj of the Mar 8 - 18 - 27 price swing
The trend outlook in Bund futures is unchanged and remains bearish. The contract traded to fresh cycle lows last week, confirming once again a resumption of the downtrend. Key support at 131.23, the Feb 29 low, has recently been cleared. Sights are on 129.26, 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 131.37, the 20-day EMA.
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