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Price Signal Summary - Bund Bull Cycle Remains Intact

OUTLOOK
  • In the FI space, Bund futures remain in an uptrend and the contract is trading higher today, confirming a resumption of the uptrend and an extension of the recent break of resistance at 135.81, the Dec 7 high. The move higher maintains the bullish price sequence of higher highs and higher lows. Sights are on 138.00 next. On the downside, key short-term support has been defined at 134.37, the Dec 8 low. A short-term pullback would be considered corrective.
  • The current uptrend in Gilt futures remains intact and the contract has gapped higher today. This confirms once again, a resumption of the underlying uptrend and maintains a bullish price sequence of higher highs and higher lows. The focus is on the 103.12, the 2.618 projection of the Nov 24 - 29 - 30 price swing. Initial firm support lies at 100.20, the Dec 13 high and a gap low on the daily chart. Short-term weakness would be considered corrective.

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