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Free Access(Z9) Consolidates but remains bearish....>
BUND TECHS: (Z9) Consolidates but remains bearish
*RES 4: 175.62 High Sep 12
*RES 3: 175.09 Trendline resistance drawn off the Sep 3 high
*RES 2: 174.00 Round number resistance
*RES 1: 173.63 High Sep13
*PRICE: 172.72 @ 03:38 GMT Sep 18
*SUP 1: 172.18 Low Sep 13
*SUP 2: 172.00 Round number support
*SUP 3: 171.79 61.8% retracement of Jul 12 - Sep 3 rally
*SUP 4: 171.18 1.382 projection of Sep 3 - Sep 11 decline from Sep 12 high
No change in Z9 Bund as consolidation dominates for now. The outlook remains
bearish though following the steep sell-off last week, a move that confirmed a
downtrend condition. Moving average and momentum studies remain in bear mode
reinforcing the current downward cycle. The focus is on the 61.8% retracement of
the rally between Jul 12 - Sep 3 at 171.79. This level is also seen as the next
crucial support. Resistance for now remains 173.63.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.