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BUND TECHS: (Z4) Trend Structure Remains Bullish

BUND TECHS
Fixed Income Technical AnalysisCredit BulletsBundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletGlobalFixed Income BulletsRegionMarkets
  • RES 4: 136.00 Round number resistance         
  • RES 3: 135.66 High Aug 5 and the bull trigger
  • RES 2: 134.95 76.4% retracement of the Aug 5 - Sep 2 bear leg  
  • RES 1: 134.81 High Sep 6                    
  • PRICE: 134.53 @ 05:17 BST Sep 10
  • SUP 1: 133.78/15 20- and 50-day EMA values             
  • SUP 2: 132.65 Low Sep 2 and the bear trigger 
  • SUP 3: 132.25 Low Jul 29 
  • SUP 4: 131.66 Low Jul 26

Bund futures gapped lower Monday but managed to recover during yesterday’s session. The outlook remains bullish following last week’s rally and note that moving average studies are in a bull-mode position, highlighting an uptrend. Sights are on 134.95 next, a Fibonacci retracement. On the downside, a clear break of the 50-day EMA, at 133.15,  would highlight scope for a deeper retracement. First support is 133.70, the 20-day EMA.

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  • RES 4: 136.00 Round number resistance         
  • RES 3: 135.66 High Aug 5 and the bull trigger
  • RES 2: 134.95 76.4% retracement of the Aug 5 - Sep 2 bear leg  
  • RES 1: 134.81 High Sep 6                    
  • PRICE: 134.53 @ 05:17 BST Sep 10
  • SUP 1: 133.78/15 20- and 50-day EMA values             
  • SUP 2: 132.65 Low Sep 2 and the bear trigger 
  • SUP 3: 132.25 Low Jul 29 
  • SUP 4: 131.66 Low Jul 26

Bund futures gapped lower Monday but managed to recover during yesterday’s session. The outlook remains bullish following last week’s rally and note that moving average studies are in a bull-mode position, highlighting an uptrend. Sights are on 134.95 next, a Fibonacci retracement. On the downside, a clear break of the 50-day EMA, at 133.15,  would highlight scope for a deeper retracement. First support is 133.70, the 20-day EMA.