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(Z0) Recovery Off 175.00 Extends

BUND TECHS
  • RES 4: 176.57 1.618 proj of Aug 28 - Sep 9 rally from the Sep 10 low
  • RES 3: 176.32 1.500 proj of Aug 28 - Sep 9 rally from the Sep 10 low
  • RES 2: 176.29 High Oct 16 and the bull trigger
  • RES 1: 176.11 Intraday high
  • PRICE: 176.01 @ 04:41 GMT Oct 28
  • SUP 1: 175.27 Low Oct 27
  • SUP 2: 175.00 Low Oct 23
  • SUP 3: 174.84 Trendline support drawn off the Sep 1 low
  • SUP 4: 174.69 50-day EMA

Bunds traded higher yesterday extending the recovery off 175.00, Oct 23 low. Attention is on the key resistance at 176.29, Oct 16 high. The recent pullback was considered a correction with underlying bullish conditions intact. Note that the key short-term trendline support intersects at 174.84. The trendline is drawn off the Sep 1 low and the uptrend remains intact while price holds above the line. A break of 176.29 resumes the uptrend opening 176.32/57.

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