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(Z2) Bear Trigger Within Reach

BUND TECHS
  • RES 4: 144.56 High Sep 12
  • RES 3: 143.68 38.2% retracement of the Aug 2 - Sep 28 bear leg
  • RES 2: 142.87 High Oct 4
  • RES 1: 139.91 20-day EMA
  • PRICE: 136.09 @ 05:20 BST Oct 12
  • SUP 1: 135.52 Sep 28 low and key support
  • SUP 2: 135.27 Low Mar 2012 (cont)
  • SUP 3: 134.76 4.382 proj of the Aug 2 - 12 - 15 price swing
  • SUP 4: 134.24 4.50 proj of the Aug 2 - 12 - 15 price swing

Bund futures maintain a softer tone and are trading closer to their recent lows. The reversal from 142.87, Oct 4 high marked the end of the corrective bounce higher between Sep 28 - Oct 4. This reinforces the broader bearish theme and moving average studies remain in a bear mode position. The focus is on 135.52, the Sep 28 low and bear trigger. Price needs to clear resistance at 142.87 to suggest scope for a stronger reversal.

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