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Price Signal Summary - Corrective Cycle In Bunds Extends

OUTLOOK
  • In the FI space, Bund futures have traded higher today and breached the 20-day EMA, at 132.67. The trend outlook is bearish and gains are considered corrective. The recent break of 132.23 and 131.61, 61.8% and 76.4% of the Jul 10 - 19 rally, highlights a stronger bearish threat and signals scope for weakness towards key support at 130.60, the Jul 10 low. First resistance is at 133.11, the 50-day EMA. It has been pierced - a clear break would open 134.01, the Jul 24 high.
  • Bearish conditions in Gilt futures remain intact. The contract has recently breached 96.11, the Jul 21 low, and cleared the 20-day EMA, reinforcing a bearish theme. Last Friday’s move lower resulted in a break of 94.58, the Jul 17 low and this opens 93.45 next, 76.4% of the Jul 7 - 19 rally. Initial firm resistance is at 95.29, the 20-day EMA. It has been pierced, a clear break would open 96.19, the Jul 31 high. Short-term gains are considered corrective.
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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