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(Z0) ProbesResistance

  • RES 4: 174.93 High Aug 6
  • RES 3: 174.72 0.764 proj of Aug 28 - Sep 9 rally from the Sep 10 low
  • RES 2: 174.51 High Aug 21, high Sep 9 and the bull trigger
  • RES 1: 174.45 High Sep 17
  • PRICE: 174.14 @ 05:53 BST Sep 18
  • SUP 1: 173.74 Low Sep 17
  • SUP 2: 173.06 Sep 10 low and key near-term support
  • SUP 3: 172.75 76.4% retracement of the Aug 28 - Sep 9 rally
  • SUP 4: 172.24 Low Aug 28 and major support

Bund futures trade higher yesterday and probed former resistance at 174.41, Sep 9 high. A positive outlook is maintained. The recent recovery refocuses attention on key resistance defined at 174.51,Sep 9 high. Clearance of this hurdle would reinstate a bullish theme and open 175.08, Aug 4 high. Sub 173.06 levels would instead highlight a bearish threat. This would open172.24, Aug 28 low. Initial support is at 173.74, yesterday's low.

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