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(Z2) Trend Direction Remains Down

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: 146.90 High Aug 30
  • PRICE: 145.51 @ 05:11 BST Sep 6
  • SUP 1: 144.39 Low Sep 1 and the bear trigger
  • SUP 2: 143.64 2.382 proj of the Aug 2 - 12 - 15 price swing
  • SUP 3: 143.12 2.50 proj of the Aug 2 - 12 - 15 price swing
  • SUP 4: 142.60 2.61.8 proj of the Aug 2 - 12 - 15 price swing

Bund futures traded lower yesterday and remain in bear mode following last week's extension lower. Short-term gains are considered corrective. 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. The bear trigger is 144.39, Sep 1 low, where a break would resume bearish activity. The focus is on 143.64. Resistance is at 146.90, the Aug 30 high.

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