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(Z0) Trendline Support Intact

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: 175.86 High Oct 21
  • PRICE: 175.43 @ 04:41 GMT Oct 27
  • SUP 1: 175.00 Low Oct 23
  • SUP 2: 174.78 Trendline support drawn off the Sep 1 low
  • SUP 3: 174.58 50-day EMA
  • SUP 4: 174.49 Low Oct 9

Bunds remain below key resistance at 176.29, Oct 16 high.The recent pullback is still considered a correction and initial support has been established at 175.00, Oct 23 low. Note that the key short-term trendline support intersects at 174.78. The trendline is drawn off the Sep 1 low and the uptrend remains intact while price trades above the line. A break of 175.86, Oct 21 high would signal scope for intraday gains ahead of 176.29.

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