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(U2) Downtrend Extends

BUND TECHS
  • RES 4: 155.27 High May 26
  • RES 3: 153.36 High May 31
  • RES 2: 152.08/34 20-day EMA / Low May 18
  • RES 1: 150.97 Low May 9
  • PRICE: 148.66 @ 05:12 BST Jun 9
  • SUP 1: 148.52 Intraday low
  • SUP 2: 148.23 Low Jun 10, 2015 (cont)
  • SUP 3: 148.02 1.382 proj of the Apr 28 - May 9 - 12 price swing
  • SUP 4: 147.35 1.50 proj of the Apr 28 - May 9 - 12 price swing

A bearish theme and strong downward price pressure continue to deliver fresh lows in Bund futures. Price has recently cleared support at 150.97, May 9 low and a bear trigger. The contract is also below the 150.00 handle. This marked a resumption of the primary downtrend and maintains the bearish price sequence of lower lows and lower highs. The focus is on 148.23 next, the Jun 10 2015 low (cont). Firm resistance is at 152.08, the 20-day EMA.

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