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(Z2) Trend Needle Still Points South

BUND TECHS
  • RES 4: 143.20 20-day EMA
  • RES 3: 142.58 High Sep 20
  • RES 2: 142.02 High Sep 22
  • RES 1: 140.99 High Sep 23
  • PRICE: 137.98 @ 05:07 BST Sep 27
  • SUP 1: 137.41 Low Sep 26
  • SUP 2: 137.00 Round number support
  • SUP 3: 136.46 4.00 proj of the Aug 2 - 12 - 15 price swing
  • SUP 4: 135.41 4.236 proj of the Aug 2 - 12 - 15 price swing

Bund futures remain in a clear downtrend and the extension lower last week and yesterday, confirm a continuation of the bear leg that started early August. The major support at 140.67, the Jun 16 low (cont), has been cleared. The break strengthens the broader bearish outlook and confirms a resumption of the primary downtrend. With 140.00 pierced, attention turns to the 137.00 handle. The 20-day EMA, at 143.20 is a firm resistance.

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  • RES 4: 143.20 20-day EMA
  • RES 3: 142.58 High Sep 20
  • RES 2: 142.02 High Sep 22
  • RES 1: 140.99 High Sep 23
  • PRICE: 137.98 @ 05:07 BST Sep 27
  • SUP 1: 137.41 Low Sep 26
  • SUP 2: 137.00 Round number support
  • SUP 3: 136.46 4.00 proj of the Aug 2 - 12 - 15 price swing
  • SUP 4: 135.41 4.236 proj of the Aug 2 - 12 - 15 price swing

Bund futures remain in a clear downtrend and the extension lower last week and yesterday, confirm a continuation of the bear leg that started early August. The major support at 140.67, the Jun 16 low (cont), has been cleared. The break strengthens the broader bearish outlook and confirms a resumption of the primary downtrend. With 140.00 pierced, attention turns to the 137.00 handle. The 20-day EMA, at 143.20 is a firm resistance.