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(U3) Trend Needle Continues To Point South

BUND TECHS
  • RES 4: 134.14/135.00 High Jul 3 / High Jun 27
  • RES 3: 132.99 20-day EMA
  • RES 2: 132.18/65 Low Jun 16 / High Jul 6
  • RES 1: 131.58 High Nov 11
  • PRICE: 131.02 @ 05:42 BST Jul 12
  • SUP 1: 130.60 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 are consolidating and maintain a softer tone following last week’s extension lower. Price has cleared key support and the bear trigger at 132.12, the May 26 low. The break strengthens bearish conditions and confirms a resumption of the downtrend. This opens 130.46, a Fibonacci projection. Moving average studies are in bear-mode position, reinforcing a bearish theme. Initial firm resistance is at 132.18, the Jun 16 low.

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