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(Z0) Pullback Considered A Correction

BUND TECHS
  • RES 4: 177.40 2.000 proj of Aug 28 - Sep 9 rally from the Sep 10 low
  • RES 3: 177.00 Round number resistance
  • RES 2: 176.89 1.764 proj of Aug 28 - Sep 9 rally from the Sep 10 low
  • RES 1: 176.83 High Nov 4 and the bull trigger
  • PRICE: 176.06 @ 04:55 GMT Nov 9
  • SUP 1: 175.75 20-day EMA
  • SUP 2: 175.53 Low Nov 4 and a key support
  • SUP 3: 175.33 Trendline drawn off the Sep 1 low
  • SUP 4: 175.00 Low Oct 23 and a key support

Bunds maintain a bullish tone despite the recent corrective pullback. The Nov 4 rally off the day led to a fresh high print of 176.83. This confirmed a resumption of the underlying uptrend extending the bullish price sequence of higher highs and higher lows. Further gains are likely with the focus on 176.89 next, a Fibonacci projection. Initial key support lies at 175.53, the Nov 4 low.

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