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(U4) Bull Cycle Remains In Play

BUND TECHS
  • RES 4: 133.94 2.00 proj of the May 31 - Jun 5 - 10 price swing
  • RES 3: 133.71 High Apr 12
  • RES 2: 133.42 1.764 proj of the May 31 - Jun 5 - 10 price swing
  • RES 1: 133.21 High Jun 14
  • PRICE: 132.57 @ 05:33 BST Jun 19
  • SUP 1: 131.64/131.33 50- and 20-day EMA values
  • SUP 2: 130.21 Low Jun 12
  • SUP 3: 129.52 Low Jun 10
  • SUP 4: 129.37 Low May 31 and the bear trigger

Bund futures continue to trade closer to their rece3nt highs and a bull cycle remains in play. Recent gains have resulted in a break of resistance at 131.58, the Jun 5 high. This breach confirms a double bottom on the daily chart and has also resulted in a breach of resistance at 132.83, the May 16 high. This strengthens a bullish theme and opens 133.42, a Fibonacci projection. Initial support is 131.64, the 50-day EMA.

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