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(M4) Trend Needle Points South

BUND TECHS
  • RES 4: 132.55 High Apr 15
  • RES 3: 132.24 High Apr 19
  • RES 2: 131.86 High MAy 7
  • RES 1: 131.13/69 High May 14 / 50-day EMA
  • PRICE: 130.64 @ 04:59 BST May 15
  • SUP 1: 130.24/129.53 Low May 14 / Low Apr 25 and the bear trigger
  • 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

Bund futures traded lower yesterday. The trend outlook is unchanged, it remains bearish and recent gains appear to have been a correction. Moving average studies are in a bear-mode position and this highlights a clear downward trend cycle. A resumption of weakness would open 129.26, a Fibonacci projection. Firm resistance is at 131.69, the 50-day EMA. A clear break of the average would be bullish.

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