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(Z2) Watching Resistance At The 50-Day EMA

BUND TECHS
  • RES 4: 142.87 High Oct 4 and a key reversal point
  • RES 3: 141.74 High Oct 5
  • RES 2: 140.92 High Oct 28 and the bull trigger
  • RES 1: 140.72 High Nov 10
  • PRICE: 138.31 @ 05:10 GMT Nov 14
  • SUP 1: 138.15 20-day EMA
  • SUP 2: 135.76/65 Low Nov 8 / 76.4% of the Oct 21 - 28 bull phase
  • SUP 3: 135.23 Low Oct 24
  • SUP 4: 134.02 Low Oct 21 and the bear trigger

Bund futures traded sharply higher Thursday but gave back most of its gains Friday. Price has pierced the 50-day EMA at 139.99. A clear break of this average would threaten the recent bearish theme and highlight a stronger short-term reversal. This would open 140.92, the Oct 28 high and 142.87, the Oct 4 high. The 20-day EMA is seen as initial support - it intersects at 138.15. Key short-term support lies at 135.76, the Nov 8 low.

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