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WTI TECHS

(M1) Back Toward Week’s Lows

EURJPY TECHS

Needle Still Points North

BTP TECHS

(M1) Downtrend Accelerates

GILT TECHS

(M1) Key Support Zone Exposed

USDJPY TECHS

Fierce Bounce, But Needs to Stick

BUND TECHS
  • RES 4: 179.56 High Mar 6 (cont)
  • RES 3: 179.22 1.000 proj of Jun 5 - Jun 29 rally from Jul 2 low
  • RES 2: 178.23 0.764 proj of Jun 5 - Jun 29 rally from Jul 2 low
  • RES 1: 178.00 / 01 Round number resistance / High Jul 31
  • PRICE: 175.39 @ 03:40 BST Aug 14
  • SUP 1: 176.19 50-dma
  • SUP 2: 175.46 Low Aug 13
  • SUP 4: 175.04 Low Jul 2

The sell-off resumed Thursday, with Bund futures edging through and closing below both the 50-dma as well as key Fib support at 175.53 (23.6% Mar - Aug rally) on the continuation contract. This represents a bearish development, opening a more protracted leg lower in the near future. Thursday marked five consecutive sessions of lower lows, opening levels not seen since early June. Markets need a close above 176.00 to re-accelerate any rally.

MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com