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OUTLOOK: Price Signal Summary - Gains In Bunds Appear Corrective

OUTLOOK
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  • In the FI space, a bearish theme in Bund futures remains intact and price continues to trade below both the 20- and 50-day EMAs. Short-term gains appear corrective. Attention is on the next key support at 132.65, the Sep 2 low. Clearance of this level would strengthen a bearish theme and highlight a stronger reversal. Initial firm resistance is at 134.00, the 20-day EMA. A clear break of this average is required to signal a possible reversal.
  • A bear threat in Gilt futures remains present and the recent impulsive sell-off reinforces a bearish theme. The contract has traded through support at 98.11, the Sep 2 low and a bear trigger. The break strengthens the downtrend, signalling scope for a deeper retracement. The 96.00 handle has now given way, exposing 95.47, the 1.236 projection of the Sep 17 - 30 - Oct 1 price swing. Initial firm resistance is seen at 98.11, the Sep 2 low. First resistance is at 96.93, the Oct 7 high.
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  • In the FI space, a bearish theme in Bund futures remains intact and price continues to trade below both the 20- and 50-day EMAs. Short-term gains appear corrective. Attention is on the next key support at 132.65, the Sep 2 low. Clearance of this level would strengthen a bearish theme and highlight a stronger reversal. Initial firm resistance is at 134.00, the 20-day EMA. A clear break of this average is required to signal a possible reversal.
  • A bear threat in Gilt futures remains present and the recent impulsive sell-off reinforces a bearish theme. The contract has traded through support at 98.11, the Sep 2 low and a bear trigger. The break strengthens the downtrend, signalling scope for a deeper retracement. The 96.00 handle has now given way, exposing 95.47, the 1.236 projection of the Sep 17 - 30 - Oct 1 price swing. Initial firm resistance is seen at 98.11, the Sep 2 low. First resistance is at 96.93, the Oct 7 high.