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BUND TECHS: (Z4) Corrective Pullback

BUND TECHS
Fixed Income Technical AnalysisCredit BulletsBundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletGlobalFixed Income BulletsRegionMarkets
  • RES 4: 137.85 1.382 projection of the Sep 2 - 11 - 20 price swing        
  • RES 3: 136.77 1.00 projection of the Sep 2 - 11 - 20 price swing
  • RES 2: 136.37 1.236 retracement proj of the Aug 5 - Sep 2 bear leg
  • RES 1: 136.20 High Oct 1                      
  • PRICE: 135.09 @ 05:26 BST Oct 3
  • SUP 1: 134.64 20-day EMA             
  • SUP 2: 134.31/133.96 Low Sep 27 / 50-day EMA
  • SUP 3: 132.65 Low Sep 2 and the bear trigger
  • SUP 4: 132.25 Low Jul 29

Bund futures traded sharply higher Tuesday and this resulted in a break above key resistance and a bull trigger at 135.66. A clear break of this hurdle confirms a resumption of the medium-term uptrend and paves the way for a climb towards 136.77, a Fibonacci projection. The contract has pulled from its latest highs. The move down appears to be a correction - for now. Initial firm support lies at 134.59, the 20-day EMA.

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  • RES 4: 137.85 1.382 projection of the Sep 2 - 11 - 20 price swing        
  • RES 3: 136.77 1.00 projection of the Sep 2 - 11 - 20 price swing
  • RES 2: 136.37 1.236 retracement proj of the Aug 5 - Sep 2 bear leg
  • RES 1: 136.20 High Oct 1                      
  • PRICE: 135.09 @ 05:26 BST Oct 3
  • SUP 1: 134.64 20-day EMA             
  • SUP 2: 134.31/133.96 Low Sep 27 / 50-day EMA
  • SUP 3: 132.65 Low Sep 2 and the bear trigger
  • SUP 4: 132.25 Low Jul 29

Bund futures traded sharply higher Tuesday and this resulted in a break above key resistance and a bull trigger at 135.66. A clear break of this hurdle confirms a resumption of the medium-term uptrend and paves the way for a climb towards 136.77, a Fibonacci projection. The contract has pulled from its latest highs. The move down appears to be a correction - for now. Initial firm support lies at 134.59, the 20-day EMA.