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(Z1) Still Heading South

BUND TECHS
  • RES 4: 170.81 Low Sep 17 and recent breakout level
  • RES 3: 170.55 High Oct 4 and key near-term resistance
  • RES 2: 170.00 High Oct 7
  • RES 1: 169.12 Low Oct 6 and recent breakout level
  • PRICE: 168.38 @ 05:15 BST Oct 13
  • SUP 1: 168.21 Low Oct 12
  • 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 bearish and the contract traded lower again yesterday. This maintains the bearish price sequence of lower lows and lower highs that defines a downtrend. Note moving average studies are in a bear mode too, reinforcing the current trend direction. The focus is on 167.98 next, a Fibonacci projection and beyond. Key short-term resistance has been defined at 170.00.

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