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(U3) Bearish Extension

BUND TECHS
  • RES 4: 136.50 High May 11
  • RES 3: 135.85 High Jun 1 and key short-term resistance
  • RES 2: 135.61 High Jun 2
  • RES 1: 134.14/135.00 High Jul 3 / High Jun 27
  • PRICE: 133.25 @ 05:03 BST Jul 5
  • SUP 1: 132.47 Low Jun 22
  • SUP 2: 132.12 Low May 26 and key support
  • SUP 3: 131.89 1.00 projection of the Jun 1 - 8 - 12 price swing
  • SUP 4: 131.21 1.236 projection of the Jun 1 - 8 - 12 price swing

Bund futures remain below last week’s high of 135.00 (Jun 27) and the contract traded lower Tuesday. This marks an extension of the pullback from 135.00, the Jun 27 low. A continuation lower would signal scope for a test of key support and the bear trigger at 132.12, the May 26 low. On the upside, initial resistance is at 134.14, Monday’s high. A break of 135.00, the Jun 27 high, is required to highlight a reversal.

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