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(U4) Bull Cycle Extension

BUND TECHS
  • RES 4: 133.42 1.764 projection of the May 31 - Jun 5 - 1 price swing
  • RES 3: 133.21 High Jun 14 and the bull trigger
  • RES 2: 132.80 High Jun 25
  • RES 1: 132.57 High Jul 16
  • PRICE: 132.46 @ 05:37 BST Jul 17
  • SUP 1: 131.62 50-day EMA
  • SUP 2: 130.95/23 Low Jul 10 / 3 and key short-term support
  • SUP 3: 129.52 Low Jun 10
  • SUP 4: 129.37 Low May 31 and the bear trigger

Bund futures remain in a short-term bull cycle and the contract traded higher Tuesday. This marks an extension of the recent breach of the 50-day EMA, at 131.62. 132.51, the 76.4% retracement of the Jun 14 - Jul 3 bear leg, has been pierced. Clearance of this level would open 133.21, the Jun 14 high. For bears, a resumption of weakness would refocus attention on key support at 130.23, the Jul 3 low.

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