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(U2) Retracement still Considered Corrective

BUND TECHS
  • RES 4: 161.38 2.00 projection of the Jun 16 - 24 - 28 price swing
  • RES 3: 160.00 Round number resistance
  • RES 2: 159.79 High Apr 4 (cont)
  • RES 1: 158.33/159.70 High Aug 3 / 2 and the bull trigger
  • PRICE: 155.70 @ 05:05 BST Aug 15
  • SUP 1: 154.75 Low Jul 28
  • SUP 2: 153.65 50-day EMA
  • SUP 3: 149.69 Low Jul 21 and key short-term support
  • SUP 4: 148.24 Low Jul 1

Bund futures traded lower again Friday. The current retracement is still considered corrective and the short-term trend direction remains up. Moving average studies are in a bull mode condition and the bullish price sequence of higher highs and higher lows is intact. A resumption of gains would open 159.79, Apr 4 high (cont). Key trend support has been defined at 149.69, Jul 21 low. A break is required to signal a potential top. Initial support is 154.75.

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