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(Z1) Remains Below Recent Highs

  • RES 4: 172.12 High Sep 14
  • RES 3: 171.95 61.8% retracement of the Aug - Nov sell-off
  • RES 2: 171.72 High Sep 23
  • RES 1: 171.44 High Nov 9
  • PRICE: 170.57 @ 05:20 GMT Nov 12
  • SUP 1: 170.06 Low Nov 5
  • SUP 2: 168.98 Low Nov 3
  • SUP 3: 167.69 Low Nov 1 and the bear trigger
  • SUP 4: 167.52 Low Mar 19 2020 (cont)

Bund futures remain below recent highs. The contract traded higher Tuesday to confirm an extension of the current upleg. The recent breach of resistance at 169.83, Oct 27 high and the break of the 50-day EMA signals scope for a stronger short-term corrective bounce. 171.14, 50.0% of the Aug - Nov sell-off has been breached and attention is on 171.95, the 76.4% level. On the downside, initial support to watch is at 170.06.

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