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(Z0) Attacking Resistance

BUND TECHS
  • RES 4: 175.74 1.236 proj of Aug 28 - Sep 9 rally from the Sep 10 low
  • RES 3: 175.23 1.000 proj of Aug 28 - Sep 9 rally from the Sep 10 low
  • RES 2: 175.08 High Aug 4 and the bull trigger
  • RES 1: 174.90 High Sep 29
  • PRICE: 174.77 @ 04:51 BST Sep 30
  • SUP 1: 174.19 20-day EMA and key near-term support
  • SUP 2: 173.74 Low Sep 17
  • SUP 3: 173.54 Low Sep 11
  • SUP 4: 173.06 Sep 10 low and the reversal trigger

Bund futures traded higher yesterday breaching the first of two important resistance levels, 174.85, the Sep 21 high. This brings into focus the next key hurdle for bulls at 175.08, Aug 4 high. A bullish outlook remains intact following the recent breach of 174.51, Aug 21 and Sep 9 high. A break of 175.08 would reinforce bullish conditions and open 175.23, a Fibonacci projection. Initial firm support lies at 174.19, the 20-day EMA.

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