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(U0) Recent Sell-Off Weighs

BUND TECHS
  • RES 4: 178.01 High Jul 31, Aug 4 and key resistance
  • RES 3: 177.67 High Aug 7
  • RES 2: 176.66 20-day EMA
  • RES 1: 176.60 High Aug 13
  • PRICE: 175.77 @ 04:52 BST Aug 17
  • SUP 1: 175.25 Low Aug 14
  • SUP 2: 175.04 Low Jul 2 and the next bear trigger
  • SUP 3: 174.65 61.8% retracement of the Jun 5 - Aug 4 rally
  • SUP 4: 174.12 Low Jun 11

Bund futures remain vulnerable despite Friday's bounce. Last week's sell-off resulted in a break of the 50-dma and the 175.53 Fibonacci retracement, 23.6% of the Mar - Aug rally on the continuation chart. This reinforces the bearish theme with further weakness likely near-term. Attention is on 175.04, Jul 2 low where a break would also trigger a deeper pullback. Markets need a close above 176.00 to highlight the possibility of a base.

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