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(U3) Recovery Extends

BUND TECHS
  • RES 4: 135.00 High Jun 27 and key resistance
  • RES 3: 134.14 High Jul 3
  • RES 2: 133.68 High Jul 5
  • RES 1: 133.13 Intraday high
  • PRICE: 132.93 @ 09:54 BST Jul 13
  • SUP 1: 131.92/130.60 Intraday low / Low Jul 10
  • SUP 2: 130.46 1.236 projection of the Jun 1 - 16 - 27 price swing
  • SUP 3: 129.93 1.382 projection of the Jun 1 - 16 - 27 price swing
  • SUP 4: 129.49 1.50 projection of the Jun 1 - 16 - 27 price swing

Bund futures have rallied sharply higher today, extending yesterday’s rally. The move higher has resulted in a break of resistance at the 20-day EMA, which intersects at 132.71. This strengthens the short-term bull cycle and a continuation higher would open 133.68, the Jul 5 high. For bears, a reversal lower would refocus attention on key support at 130.60, the Jul 10 low. Note that the medium-term trend direction remains down.

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