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(Z0) Extends Gains

BUND TECHS
  • RES 4: 176.46 High Nov 9
  • RES 3: 176.08 76.4% retracement of the Nov 4 - 11 sell-off
  • RES 2: 175.62 61.8% retracement of the Nov 4 - 11 sell-off
  • RES 1: 175.46 High Nov 18
  • PRICE: 175.21 @ 05:02 GMT Nov 19
  • SUP 1: 174.85 Low Nov 17
  • SUP 2: 174.45 Low Nov 16 and key intraday support
  • SUP 3: 173.66 Low Nov 11 and the bear trigger
  • SUP 4: 173.32 76.4% retracement of the Aug 28 - Nov 4 rally

Bund futures maintain a firmer posture as the contract extends the retracement of the sharp move lower between Nov 4 - 11. Attention turns to the 61.8% retracement of this sell-off, at 175.62. Clearance of this chart point would open 176.08, the 76.4% level ahead of major resistance at 176.83, the Nov 4 high. On the downside, weakness through support at 174.45 is required to reinstate a bearish focus.

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