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(U4) Bull Cycle Still In Play

BUND TECHS
  • RES 4: 133.21 High Jun 14 and the bull trigger
  • RES 3: 132.80 High Jun 25
  • RES 2: 132.51 76.4% retracement of the Jun 14 - Jul 3 bear leg
  • RES 1: 132.13 Intraday high
  • PRICE: 132.10 @ 06:59 BST Jul 16
  • SUP 1: 130.78/23 Low Jul 9 / 3 and key short-term support
  • SUP 2: 129.52 Low Jun 10
  • SUP 3: 129.37 Low May 31 and the bear trigger
  • SUP 4: 129.00 Round number support

Bund futures remain in a short-term bull cycle and the contract is trading at its recent highs. Price last week traded through resistance at the 50-day EMA, at 131.57. This signalsl scope for an extension and has exposed 132.51, a Fibonacci retracement point. Clearance of this level would expose 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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