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(U1) Trendline Support Remains Exposed

BUND TECHS
  • RES 4: 177.61 High Aug 05 and the bull trigger
  • RES 3: 177.24 High Aug 17 and 19
  • RES 2: 176.87 High Aug 25
  • RES 1: 175.66/76.48 Low Aug 27 / High Aug 31
  • PRICE: 175.38 @ 05:15 BST Sep 3
  • SUP 1: 175.25/174.98 Trendline drawn from May 19 low / Low Sep 1
  • SUP 2: 174.64 50.0% retracement of the Jul 22 - Aug 5 rally
  • SUP 3: 173.94 61.8% retracement of the Jul 22 - Aug 5 rally
  • SUP 4: 173.70 Low Jul 13 and 14

Bund futures are trading closer to recent lows. Price action has this week moved below the 50-day EMA reinforcing bearish conditions and is testing trendline support at 175.25. The trendline is drawn from the May 19 low. A clear break would signal scope for a deeper sell-off and highlight a more significant reversal. This would open 174.64, a Fibonacci retracement. Key short-term resistance has been defined at 176.48, Tuesday's high.

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