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(Z2) Bear Trend Intact

BUND TECHS
  • RES 4: 146.81 High Sep 5 and a key resistance
  • RES 3: 144.53 20-day EMA
  • RES 2: 143.87 High Sep 14
  • RES 1: 142.58 High Sep 20
  • PRICE: 141.04 @ 05:07 BST Sep 22
  • SUP 1: 140.67/53 Low Jun 16 2022 / Low Sep 20
  • SUP 2: 140.00 Psychological round number
  • SUP 3: 139.20 3.382 proj of the Aug 2 - 12 - 15 price swing
  • SUP 4: 138.68 Low Jan 2014

Bund futures remain in a clear downtrend and the extension lower earlier this week confirmed a resumption of the bear leg that started early August. The 142.00 handle has been cleared and attention is on the next major support at 140.67, the Jun 16 low (cont). This level has been pierced, a clear break would strengthen the broader bearish outlook and open the psychological 140.00 handle. The 20-day EMA, at 144.53 is a firm resistance.

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