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(Z1) Resumes Its Downtrend

BUND TECHS
  • RES 4: 171.72 High Sep 23
  • RES 3: 170.76 50-day EMA
  • RES 2: 170.55 High Oct 4
  • RES 1: 169.48/92 High Oct 19 / High Oct 14 and key resistance
  • PRICE: 168.13 @ 05:11 BST Oct 20
  • SUP 1: 168.08 Intraday low
  • SUP 2: 167.98 2.382 proj of the Sep 9 - 17 - 21 price swing
  • SUP 3: 167.79 2.50 proj of the Sep 9 - 17 - 21 price swing
  • SUP 4: 167.52 Low Mar 19 2020

Bund futures remain in a downtrend and bearish pressure has resumed with the contract through support at 168.21, Oct 12 low. The break lower paves the way for weakness towards 167.98 next, a Fibonacci projection and 167.52, the Mar 19, 2020 low on the continuation chart. Moving average signals continue to point south, reinforcing the current sentiment. Initial key resistance is seen at 169.92, the Oct 14 high.

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