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Price Signal Summary - Bund Futures Push Through Resistance

OUTLOOK
  • In the FI space, Bund futures have started the week on a firm note, extending Friday’s strong rally. The contract is through resistance at 134.77, the Jun 12 high. Friday’s gains have eased recent bearish pressure and the breach of 134.77 signals scope for a stronger recovery towards 135.85, the Jun 1 high. Initial support lies at the 20-day EMA, at 133.64. Key support and the bear trigger lies at 132.12, the May 26 low.
  • A strong bounce in Gilt futures Friday, resulted in a clear break of resistance at the 20-day EMA. This eases recent bearish pressure for now, and instead signals scope for a stronger short-term recovery. A continuation higher would expose key resistance at 97.64, the Jun 1 high. The medium-term trend condition remains bearish - a reversal lower and a break of 93.88, the Jun 20 low, would confirm a resumption of the trend.

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