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(Z0) Rallies Off The Day Low

BUND TECHS
  • RES 4: 177.00 Round number resistance
  • RES 3: 176.89 1.764 proj of Aug 28 - Sep 9 rally from the Sep 10 low
  • RES 2: 176.57 1.618 proj of Aug 28 - Sep 9 rally from the Sep 10 low
  • RES 1: 176.53 Intraday high
  • PRICE: 176.41 @ 04:52 GMT Nov 4
  • SUP 1: 175.53 Intraday low
  • SUP 2: 175.27 Low Oct 27
  • SUP 3: 175.15 Trendline support drawn off the Sep 1 low
  • SUP 4: 175.00 Low Oct 23 and a key support

Bunds are volatile but have rallied sharply higher off today's low printing a fresh high at 176.53. A bullish tone remains in place following last week's climb. Futures traded above the key resistance at 176.29, Oct 16 high confirming a resumption of the underlying uptrend that opens 176.57 next, a Fibonacci projection. Moving average studies are positive reinforcing current conditions. Initial support lies at 175.90, Oct 30 and Nov 2 low.

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