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(U2) Short-Term Gains Considered Corrective

  • RES 4: 150.97 Low May 9
  • RES 3: 149.47 20-day EMA
  • RES 2: 147.19/148.51 High Jun 13 / High Jun 10
  • RES 1: 145.58 High Jun 14
  • PRICE: 144.97 @ 05:58 BST Jun 16
  • SUP 1: 142.25 Low Jun 15
  • SUP 2: 142.00 Round number support
  • SUP 3: 141.67 2.50 proj of the Apr 28 - May 9 - 12 price swing
  • SUP 4: 141.00 2.618 proj of the Apr 28 - May 9 - 12 price swing

Bund futures remain in a clear downtrend and short-term gains are considered corrective. Price has recently cleared support at 150.97, May 9 low, and the 150.00 handle. This marked a resumption of the primary downtrend and maintains a bearish price sequence of lower lows and lower highs. Bears haven’t looked back. A resumption of weakness would open 142.00. Firm resistance is at 149.47, the 20-day EMA.

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