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(U1) Eighth Session of Higher Highs

BUND TECHS
  • RES 4: 178.32 High Jan 27 (cont)
  • RES 3: 178.12 High Jan 27
  • RES 2: 177.69 1.764 proj of the May 19 - Jun 11 - Jun 22 price swing
  • RES 1: 177.61 High Aug 05
  • PRICE: 177.20 @ 15:46 BST Aug 05
  • SUP 1: 175.82/24 Low Jul 27 / Low Jul 22
  • SUP 2: 174.77/45 High Jul 8 / Low Jul 15
  • SUP 3: 173.79 50-day EMA
  • SUP 4: 173.70 Low Jul 13 and 14

Bund futures extended the streak of higher highs Thursday, printing up at 177.61 and the highest level since late January. Intraday rallies, however, remain short-lived, with markets keenly watching for any extension of the pullback, which would initially target the late July lows of 175.62/24. Bulls need to maintain the current bullish sequence of higher highs to extend the climb towards 177.69 next, a Fibonacci extension. Moving average conditions remain in bull mode, reinforcing the current positive trend structure.

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