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BUND TECHS: (U4) Trend Structure Remains Bullish

BUND TECHS
Fixed Income Technical AnalysisBundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletGlobalFixed Income BulletsRegion
  • RES 4: 136.99 3.382 projection of the May 31 - Jun 5 - 1 price swing        
  • RES 3: 136.45 76.4% of the Dec 27 - May 31 downleg (cont)
  • RES 2: 136.28 High Aug 5 and the bull trigger  
  • RES 1: 135.17/135.59 High Aug 14 / 6                     
  • PRICE: 134.75 @ 05:28 BST Aug 22
  • SUP 1: 134.09 20-day EMA           
  • SUP 2: 133.18 50-day EMA 
  • SUP 3: 132.08 Low Jul 26   
  • SUP 4: 131.62 Low Jul 22 and a key support 

The trend condition in Bund futures is unchanged., it remains bullish. 133.21, the Jun 14 high, was cleared on Jul 29, confirming a resumption of the uptrend. Note that moving average studies are in a bull-mode position too. A resumption of the trend would open 136.45, a Fibonacci retracement. The recent pullback has allowed an overbought condition to unwind. Support to watch is 134.09, the 20-day EMA.

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  • RES 4: 136.99 3.382 projection of the May 31 - Jun 5 - 1 price swing        
  • RES 3: 136.45 76.4% of the Dec 27 - May 31 downleg (cont)
  • RES 2: 136.28 High Aug 5 and the bull trigger  
  • RES 1: 135.17/135.59 High Aug 14 / 6                     
  • PRICE: 134.75 @ 05:28 BST Aug 22
  • SUP 1: 134.09 20-day EMA           
  • SUP 2: 133.18 50-day EMA 
  • SUP 3: 132.08 Low Jul 26   
  • SUP 4: 131.62 Low Jul 22 and a key support 

The trend condition in Bund futures is unchanged., it remains bullish. 133.21, the Jun 14 high, was cleared on Jul 29, confirming a resumption of the uptrend. Note that moving average studies are in a bull-mode position too. A resumption of the trend would open 136.45, a Fibonacci retracement. The recent pullback has allowed an overbought condition to unwind. Support to watch is 134.09, the 20-day EMA.