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Price Signal Summary - Bunds Trade Higher As A Correction Extends

OUTLOOK
  • In the FI space, Bund futures are trading higher today.
  • However, the trend outlook is unchanged, it remains bearish and short-term gains are considered corrective.
  • Key support at 131.23, the Feb 29 low, has recently been cleared.
  • This confirmed a resumption of downtrend and note that moving average studies remain in a bear mode position.
  • Sights are on 129.26, the 1.618 projection of the Mar 8 - 18 - 27 price swing.
  • On the upside, firm resistance to watch is 131.93, the 50-day EMA.

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