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(U4) Pierces Key Resistance

BUND TECHS
  • RES 4: 134.46 2.236 projection of the May 31 - Jun 5 - 1 price swing
  • RES 3: 134.00 Round number resistance
  • RES 2: 133.42 1.764 projection of the May 31 - Jun 5 - 1 price swing
  • RES 1: 133.36 High Jul 29
  • PRICE: 133.21 @ 05:20 BST Jul 30
  • SUP 1: 131.89/62 50-day EMA / Low Jul 22
  • 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

A bull cycle in Bund futures remains in play and the contract traded higher Monday. Yesterday’s gains resulted in a print above 133.21, the Jun 14 high and bull trigger. A clear break of this hurdle would confirm a resumption of the uptrend and open 133.42 next, a Fibonacci projection. For bears, a reversal would instead refocus attention on key support at 130.23, the Jul 3 low. First support is 131.89, the 50-day EMA.

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