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(U4) Resistance Remains Intact

BUND TECHS
  • RES 4: 132.83 High May 16 and a bull trigger
  • RES 3: 132.18 High May 17
  • RES 2: 131.52/58 50-day EMA / High Jun 5
  • RES 1: 131.26 High Jun 12
  • PRICE: 130.85 @ 05:18 BST Jun 13
  • SUP 1: 129.52 Low Jun 10
  • SUP 2: 129.37 Low May 31 and the bear trigger
  • SUP 3: 129.00 round number support
  • SUP 4: 128.12 1.00 proj of the May 16 - 31 - Jun 5 price swing

Recent gains in Bund futures from 129.37, the May 31 low, and the latest recovery this week, appear to be a correction. A resumption of weakness would again refocus attention on 129.37, the May 31 low and bear trigger. Clearance of this level would resume the downtrend and open the 129.00 handle. Key resistance to watch is 131.52, the 50-day EMA. A clear break of it would highlight a potential reversal.

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