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Free Access(Z18) On The Verge Of A Bullish Break....>
BUND TECHS: (Z18) On The Verge Of A Bullish Break
*RES 4: 164.15 High May 29
*RES 3: 162.50 Measured move from double bottom formation
*RES 2: 161.30 High Aug 17
*RES 1: 160.98 High Sep 3
*PREVIOUS CLOSE: 160.85
*SUP 1: 160.00 Support
*SUP 2: 159.36 55-dma
*SUP 3: 158.84 Low Oct 22
*SUP 4: 158.34 Low Oct 16
Dec-18 Bund futures added to their recent gains yesterday with bulls now looking
to close above the Sep 3 high at 16.98 to trigger an inverse head-and-shoulders
formation. A break above here would target the Aug 17 high initially ahead of
the 162.50 area. Bears need to break back below 160 to target the 55-dma at
159.36, below which the downtrend would resume towards the Oct 22 low at 158.84.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.