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Price Signal Summary - Bund Trend Condition Remains Bullish

OUTLOOK
  • In the FI space, the uptrend in Bund futures is intact and the contract traded higher once again yesterday, confirming a resumption of the trend and an extension of the recent break of resistance at 135.81, the Dec 7 high. This maintains the price sequence of higher highs and higher lows. Sights are on 139.39, a 3.382 projection of the Nov of the 13 - 17 - 24 price swing. Firm short-term support is seen at 135.75, the 20-day EMA.
  • The current uptrend in Gilt futures remains intact. The contract traded to a fresh trend high yesterday, reinforcing bullish conditions. This maintains a bullish price sequence of higher highs and higher lows. The focus is on 104.00 next. Firm support lies at 100.20, the Dec 13 high. Short-term weakness would be considered corrective. Initial support lies at 102.05, the Dec 19 high.
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