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Test immediate resistance

BUNDS
  • Bund is seeing way above average volume, with over 100k lots traded in just an hour, and only 4.4k is spread related.
  • This has been quite a notable move following a semi core (Spain) inflation data.
  • Month End is also likely underpinning futures.
  • BTP has also been dragged higher, but lags, given the large supply for today.
  • Bund has tested the resistance that was at 134.68, but has lack a clear momentum, although it did print a 134.77 high.
  • Further upside continuation would open to 134.99.

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