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BUND TECHS: BUND TECHS: (Z4) Bearish Threat

BUND TECHS
Fixed Income Technical AnalysisCredit BulletsBundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletGlobalFixed Income BulletsRegionMarkets
  • RES 4: 137.00 Round number resistance        
  • RES 3: 136.20 High Oct 1 and the bull trigger
  • RES 2: 135.24 High Oct 3
  • RES 1: 134.66 20-day EMA                       
  • PRICE: 133.92 @ 14:37 BST Oct 4
  • SUP 1: 133.64 Intraday low               
  • SUP 2: 133.49 76.4% retracement of the Sep 2 - Oct 1 rally
  • SUP 3: 132.65 Low Sep 2 and the bear trigger
  • SUP 4: 132.25 Low Jul 29

Bund futures have traded sharply lower today cancelling a bullish theme from the first half of the week. The reversal has resulted in a move through both the 20- and 50-day EMAs. This undermines a recent bullish outlook and a continuation lower would further strengthen a developing bearish threat. This would open 133.49, a Fibonacci retracement. A break of this level would expose 132.65, the Sep 2 low. Initial resistance is at 134.66, the 20-day EMA.

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  • RES 4: 137.00 Round number resistance        
  • RES 3: 136.20 High Oct 1 and the bull trigger
  • RES 2: 135.24 High Oct 3
  • RES 1: 134.66 20-day EMA                       
  • PRICE: 133.92 @ 14:37 BST Oct 4
  • SUP 1: 133.64 Intraday low               
  • SUP 2: 133.49 76.4% retracement of the Sep 2 - Oct 1 rally
  • SUP 3: 132.65 Low Sep 2 and the bear trigger
  • SUP 4: 132.25 Low Jul 29

Bund futures have traded sharply lower today cancelling a bullish theme from the first half of the week. The reversal has resulted in a move through both the 20- and 50-day EMAs. This undermines a recent bullish outlook and a continuation lower would further strengthen a developing bearish threat. This would open 133.49, a Fibonacci retracement. A break of this level would expose 132.65, the Sep 2 low. Initial resistance is at 134.66, the 20-day EMA.