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(U2) Trend Direction Remains Up

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: 156.83 @ 05:01 BST Aug 9
  • SUP 1: 155.72/155.05 Low Aug 5 / 20-day EMA
  • SUP 2: 153.25 50-day EMA
  • SUP 3: 149.69 Low Jul 21 and key short-term support
  • SUP 4: 148.24 Low Jul 1

The Bund futures outlook is unchanged and the trend direction remains up. A fresh high last week reinforced current conditions. The move higher confirmed a resumption of the uptrend and moving average studies remain in a bull mode condition. The focus is on 159.79 next, the 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 firm support is 155.05, the 20-day EMA.

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