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(U3) Support Remains Intact

BUND TECHS
  • RES 4: 135.87 2.0% 10-dma envelope
  • RES 3: 135.00 High Jun 27 and key resistance
  • RES 2: 134.88 High Jul 19
  • RES 1: 134.01 High Jul 24
  • PRICE: 133.56 @ 05:21 BST Jul 26
  • SUP 1: 132.60 Low Jul 17 and a key near-term support
  • SUP 2: 132.23 61.8% retracement of the Jul 10 - 19 rally
  • SUP 3: 131.92 Low Jul 13
  • SUP 4: 131.61 76.4% retracement of the Jul 10 - 19 rally

Bund futures are unchanged and remain below last week’s peak. For now, the recent retracement appears to be a correction and short-term trend signals highlight a bull cycle. A resumption of gains would refocus attention on key short-term resistance at 135.00, the Jun 27 high and a bull trigger. Clearance of this level would resume the uptrend that started Jul 10. Initial support to watch lies at 132.60, the Jul 17 low.

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