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(Z0) Attention Is On Recent Highs

BUND TECHS
  • RES 4: 176.83 High Nov 4 and key resistance
  • RES 3: 176.46 High Nov 9
  • RES 2: 176.08 76.4% retracement of the Nov 4 - 11 sell-off
  • RES 1: 175.73 High Nov 20
  • PRICE: 175.58 @ 04:58 GMT Nov 27
  • SUP 1: 174.96 Low Nov 25
  • SUP 2: 174.45 Low Nov 16 and key near-term support
  • SUP 3: 173.66 Low Nov 11 and the bear trigger
  • SUP 4: 173.33 76.4% retracement of the Aug 28 - Nov 4 rally

Bund futures continue to trade below recent highs and a key short-term resistance has been defined at 175.73, the Nov 20 high. A break of this level is required to confirm an extension of recent gains and open 176.46, Nov 9 high. Recent gains stalled just above the 61.8% retracement of the Nov 4 - 11 sell-off and this is seen as a potential bearish development. Key near-term support lies at 174.45, Nov 16 low. A break would reinstate a bearish focus.

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