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Resend - (M1) Bearish Focus

BUND TECHS
  • RES 4: 172.34 High Mar 29
  • RES 3: 172.12 High Apr 8 and key near-term resistance
  • RES 2: 171.62 High Apr 14
  • RES 1: 171.29 20-day EMA
  • PRICE: 170.83 @ 05:07 BST Apr 21
  • SUP 1: 170.05 76.4% retracement of the Feb 25 - Mar 25 rally
  • SUP 2: 170.00 Round number support
  • SUP 3: 169.24 Low Feb 24 and major support
  • SUP 4: 168.96 0.618 proj of the Jan 27 - Feb 25 - Mar 25 price swing

A bearish theme still dominates in Bund futures. Monday's sell-off resulted in a break of support at 170.52, Mar 18 low. This strengthens a bearish case and signals scope for a deeper sell-off, opening 170.05 next, a Fibonacci retracement, ahead of the key support and bear trigger at 169.24, Feb 24 low. On the upside, firm resistance is at 171.62, Apr 14 high. Initial resistance is at the 20-day EMA at 171.29.

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