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(H1) Bearish Risk Still Present

BUND TECHS
  • RES 4: 178.77 High Dec 11 and a key near-term resistance
  • RES 3: 178.44 High Dec 21
  • RES 2: 178.37 High Jan 4
  • RES 1: 177.85 High Jan 6
  • PRICE: 177.21 @ 04:52 GMT Jan 8
  • SUP 1: 177.02/01 Low Low Jan 6 / Low Dec 23 and key support
  • SUP 2: 176.83 Low Dec 3
  • SUP 3: 176.63 Low Dec 2
  • SUP 4: 176.53 76.4% retracement of the Nov 11 - Dec 11 rally

Bund futures remain weaker. The contract stalled this week at 178.37 and is holding onto recent lows. With resistance at 178.44 intact, Dec 21 high, attention is on support at 177.01, the Dec 23 low. A break of this level would set the scene for a deeper sell-off and open 176.63, Dec 2 low. On the upside, clearance of 178.37 is required to once again highlight a bullish development. Vulnerable for now.

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