October 28, 2024 06:02 GMT
BUND TECHS: BUND TECHS: (Z4) Bear Cycle Extends
BUND TECHS
Fixed Income Technical AnalysisCredit BulletsBundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletGlobalFixed Income BulletsRegionMarkets
- RES 4: 135.24 High Oct 3
- RES 3: 134.63 High Oct 4
- RES 2: 134.25 High Oct 16 / 18 and key resistance
- RES 1: 133.54 High Oct 24
- PRICE: 132.52 @ 05:45 GMT Oct 28
- SUP 1: 132.39 Intraday low
- SUP 2 132.12 0.618 proj of the Oct 1 - 10 -16 price swing
- SUP 3: 131.66 Low Jul 26
- SUP 4: 130.80 1.00 proj of the Oct 1 - 10 -16 price swing
Bund futures are trading lower today, starting the week on a bearish note. The contract has traded through support at 132.58, the Oct 22 low. The breach confirms a resumption of the downtrend that started early October and signals scope for a continuation near-term. Sights are on 132.12, a Fibonacci projection. On the upside, initial key resistance has been defined at 133.54, the Oct 24 high.
138 words