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Price Signal Summary - Sell-Off In Bunds Exposes Key Support

OUTLOOK
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  • In the FI space, Bund futures have continued the pullback from the May 16 high of 132.11. The extension lower has exposed the key support and bear trigger at 129.53, the Apr 25 low. A break of this level would confirm a resumption of the downtrend that started late December last year. This would open 129.26, the 1.618 projection of the Mar 8 - 18 - 27 price swing. Initial resistance is at 130.88, the 20-day EMA.
  • Gilt futures remain soft following the recent strong sell-off. The contract has this week breached a former support at 97.23, the May 14 low. The break undermines a recent bullish theme and a continuation lower would signal scope for a move towards key support at 95.36, the Apr 25 low. Initial resistance is seen at 97.67, the 50-day EMA.
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  • In the FI space, Bund futures have continued the pullback from the May 16 high of 132.11. The extension lower has exposed the key support and bear trigger at 129.53, the Apr 25 low. A break of this level would confirm a resumption of the downtrend that started late December last year. This would open 129.26, the 1.618 projection of the Mar 8 - 18 - 27 price swing. Initial resistance is at 130.88, the 20-day EMA.
  • Gilt futures remain soft following the recent strong sell-off. The contract has this week breached a former support at 97.23, the May 14 low. The break undermines a recent bullish theme and a continuation lower would signal scope for a move towards key support at 95.36, the Apr 25 low. Initial resistance is seen at 97.67, the 50-day EMA.