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(U1) Monitoring Key Resistance

BUND TECHS
  • RES 4: 174.07 High Mar 29
  • RES 3: 173.79 High Apr 8
  • RES 2: 173.32 76.4% retracement of the Mar 25 - May 19 sell-off
  • RES 1: 173.19 High Jul 2
  • PRICE: 172.65 @ 05:10 BST Jul 6
  • SUP 1: 172.23 50-day EMA
  • SUP 2: 171.67 Low Jun 22 and the near-term bear trigger
  • SUP 3: 171.37 Low Jun 3
  • SUP 4: 170.99 Low May 31 and key short-term support

Bund futures traded higher last week and did test key resistance at 173.16, Jan 11 high. A clear break of this hurdle for bulls, would remove recent bearish concerns and instead confirm a resumption of the uptrend that started May 9. A bullish price sequence of higher highs and higher lows would also be reestablished. This would open 173.32, a Fibonacci retracement. Key support has been defined at 171.67, Jun 22 low.

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