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BUND TECHS: (M5) Oversold Trend Position But Remains Bearish

BUND TECHS
Fixed Income Technical AnalysisCredit BulletsBundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletMarketsFixed Income Bullets
  • RES 4: 130.40 Low Feb 19               
  • RES 3: 129.96 High Mar 5     
  • RES 2: 129.41 Low Jan 14 
  • RES 1: 128.33 High Mar 10                  
  • PRICE: 126.85 @ 05:42 GMT Mar 12
  • SUP 1: 126.53 Low Mar 11      
  • SUP 2: 126.28 2.618 proj of the Feb 5 - 19 - 28 price swing            
  • SUP 3: 126.00 Round number support
  • SUP 4: 123.36 3.00 proj of the Feb 5 - 19 - 28 price swing 

Bund futures are in consolidation mode and the contract is trading closer to its recent lows. A bearish theme remains intact. Last week’s impulsive sell-off signals scope for an extension towards 126.28 next, a Fibonacci projection. Further out, 126.00 is also within range. Note that the contract is in oversold territory, a recovery would allow this condition to unwind. Initial firm resistance to watch is seen at 129.41, the Jan 14 low.

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  • RES 4: 130.40 Low Feb 19               
  • RES 3: 129.96 High Mar 5     
  • RES 2: 129.41 Low Jan 14 
  • RES 1: 128.33 High Mar 10                  
  • PRICE: 126.85 @ 05:42 GMT Mar 12
  • SUP 1: 126.53 Low Mar 11      
  • SUP 2: 126.28 2.618 proj of the Feb 5 - 19 - 28 price swing            
  • SUP 3: 126.00 Round number support
  • SUP 4: 123.36 3.00 proj of the Feb 5 - 19 - 28 price swing 

Bund futures are in consolidation mode and the contract is trading closer to its recent lows. A bearish theme remains intact. Last week’s impulsive sell-off signals scope for an extension towards 126.28 next, a Fibonacci projection. Further out, 126.00 is also within range. Note that the contract is in oversold territory, a recovery would allow this condition to unwind. Initial firm resistance to watch is seen at 129.41, the Jan 14 low.