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(U3) Maintains A Softer Tone

BUND TECHS
  • RES 4: 136.97 High Apr 6
  • RES 3: 136.50 High May 11
  • RES 2: 135.85 High Jun 1 and key short-term resistance
  • RES 1: 134.67/95 / High Jun 7 / 6
  • PRICE: 134.17 @ 05:16 BST Jun 12
  • SUP 1: 133.51 Low Jun 9
  • SUP 2: 133.00/132.97 76.4% of the May 26 - Jun 1 rally / Low Jun 8
  • SUP 3: 132.33 Low May 29
  • SUP 4: 132.12 Low May 26 and key support

Bund futures maintain a softer tone following last week’s move lower. This has reinforced a bearish theme following the reversal from 135.85, the Jun 1 high. Support at 133.45 has been cleared, the May 30 low, and the focus is on 133.00, a Fibonacci retracement. It has been tested, a clear break would expose key support at 132.12, the May 26 low. Short-term gains are considered corrective, initial firm resistance is at 134.67, the Jun 7 high.

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