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Price Signal Summary - Bund Trend Sequence Remains Bearish

OUTLOOK
  • In the FI space, Bund futures remain in a downtrend - the current bear phase started Dec 7 and price traded lower once again Thursday. Recent weakness resulted in a break of support at 139.13, Nov 28 low, strengthening a bearish threat. The focus is on 134.50 next, the Nov 8 low. On the upside, initial firm resistance is seen at 138.99, the 20-day EMA.
  • Gilt futures remain bearish and the contract is trading lower again, extending the current bearish leg. This week’s price action has confirmed a clear break of 103.54, the Nov 21 low. The move has strengthened the current downtrend and signals scope for a deeper pullback - towards the 100.00 psychological support. A break would open 98.15, the Oct 4 low (cont).

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