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(Z1) Starting The Week On A Soft Note

  • RES 4: 171.96 High Sep 21 and key near-term resistance
  • RES 3: 170.81 Low Sep 17 and recent breakout level
  • RES 2: 170.55 High Oct 4 and key near-term resistance
  • RES 1: 170.00 High Oct 7
  • PRICE: 168.93 @ 05:23 BST Oct 11
  • SUP 1: 168.75 Low May 21 (cont)
  • SUP 2: 168.62 2.00 proj of the Sep 9 - 17 - 21 price swing
  • SUP 3: 168.29 Low May 19 (cont) and a key support
  • SUP 4: 167.98 2.382 proj of the Sep 9 - 17 - 21 price swing

Bund futures remain bearish and have started the week on a soft note, resuming the downtrend. A bearish price sequence of lower lows and lower highs remains in place and this defines a downtrend. Note moving average studies are in a bear mode too, reinforcing current trend conditions. The focus is on 168.62 next, a Fibonacci projection and beyond. Key short-term resistance has been defined at 170.00.

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