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Free Access(U9) Bulls hold onto gains *RES 4:.......>
BUND TECHS: (U9) Bulls hold onto gains
*RES 4: 175.00 Round number resistance
*RES 3: 174.72 1.00 Fibonacci ratio of Apr 30-May 15 rally off Jun 27 low
*RES 2: 174.67 Bull channel top
*RES 1: 174.06 0.764 Fibonacci ratio of Apr 30-May 15 rally off Jun 27 low
*PRICE: 173.93 @ 03:05 GMT July 5
*SUP 1: 173.53 Low Jul 3
*SUP 2: 172.97/91 Channel support drawn off May 3 low / Jun 25 high
*SUP 3: 172.46 Jun 28 low
*SUP 4: 171.92 Low Jun 27
U9 Bund bullish trend conditions hold following strong gains this week. The
174.00 objective was achieved yesterday and price levels are just short of next
Fibonacci projection at 174.06, ahead of 174.72. These represent 0.764 and
equality of the Apr 30-May 15 rally from the Jun 27 low respectively. Activity
is firmer within a bull channel drawn off the May 3 low. The channel top today
intersects at 174.67 & channel support lies at 172.97. Look for gains to extend.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.