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(Z2) Downtrend Intact

BUND TECHS
  • RES 4: 149.81 High Aug 23
  • RES 3: 148.97 High Aug 25
  • RES 2: 148.00 Round number resistance
  • RES 1: 145.82/146.81 High Sep 8 / High Sep 5
  • PRICE: 144.05 @ 05:08 BST Sep 13
  • SUP 1: 142.46 2.618 proj of the Aug 2 - 12 - 15 price swing
  • SUP 2: 142.00 Round number support
  • SUP 3: 140.90 2.764 proj of the Aug 2 - 12 - 15 price swing
  • SUP 4: 140.67 Low Jun 16 2022 and a key support (cont)

Bund futures remain in bear mode - the fresh low print Friday confirmed a resumption of the downtrend. The contract continues to retrace the bull leg between Jun 16 - Aug 2 and a bearish price sequence of lower lows and lower highs remains intact. Moving average studies also highlight a bearish theme. The focus is on the 142.00 handle. Firm resistance is at 146.81, the Sep 5 high. Gains are considered corrective.

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