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December Bund futures come off the 152.08 November 17 high – Commerzbank

FXStreet (Barcelona) - Alex Rudolph, Analyst at Commerzbank notes Bund futures rose above the 151.97/152.00 yesterday, and that the current November high at 152.08 is the last defense for the next key resistance.

Key Quotes

“The current November high at 152.08 is the last defence for the 152.49/70 key resistance area which also is our target zone. It represents the recent high and the top of the 20 year channel.”

“Dips lower should remain well supported by the three month support line at 151.28. Below here we find the 2014 uptrend line at 150.85. This uptrend support is reinforced by the 55 day ma at 150.01 and only a close below this latter level would confirm the end of the bull run.”

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