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Price Signal Summary - Bunds Remain Vulnerable

OUTLOOK
  • In the FI space, Bund futures remain in a bear mode condition and recent short-term gains appear to have been a correction. The contract has recently breached key short-term support at 133.55, the Jan 25 low, to confirm a resumption of the bear cycle that started Dec 27. The focus is on 132.29 next, the Nov 29 low. Initial resistance is at 134.21, the 20-day EMA.
  • A bear threat in Gilt futures remains present and Tuesday’s move lower confirmed a resumption of the current bear cycle. Key support at 97.57, the Jan 25 low, has been cleared. The break confirms a resumption of the downtrend and opens 96.67, the Dec 5 low. On the upside, initial firm resistance is seen at 98.71, the 20-day EMA.
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