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(Z3) Trend Condition Remains Bearish

BUND TECHS
  • RES 4: 130.19 High Sep 22 and key resistance
  • RES 3: 129.50 20-day EMA
  • RES 2: 129.23 High Sep 27
  • RES 1: 128.79 High Sep 29
  • PRICE: 127.80 @ 05:22 BST Oct 3
  • SUP 1: 127.01 Low Sep 28 and the bear trigger
  • SUP 2: 126.54 1.764 proj of the Jul 19 - Aug 4 - Aug 8 price swing
  • SUP 3: 126.00 Round number support
  • SUP 4: 125.69 2.00 proj of the Jul 19 - Aug 4 - Aug 8 price swing

Bund futures remain in a downtrend. The contract traded sharply lower last week before finding some support on Friday. Gains are considered corrective. The recent breach of support at 129.72, Aug 14 low and a key bear trigger, reinforced a bearish theme and confirmed a resumption of the primary downtrend. Sights are on 126.54 next, a Fibonacci projection. Key short-term resistance is at 130.19, the Sep 22 high.

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