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(H1) Bearish Theme Still Prevails

BUND TECHS
  • RES 4: 178.37 High Jan 4
  • RES 3: 177.85 High Jan 6
  • RES 2: 177.54/57 50-and 20-day EMAs
  • RES 1: 177.01 Low Dec 23 and recent breakout level
  • PRICE: 176.84 @ 04:56 GMT Jan 13
  • SUP 1: 176.34 Low Jan 12
  • SUP 2: 176.19 1.236 proj of the Dec 11 - 23 sell-off from Jan 4 high
  • SUP 3: 175.94 1.382 proj of the Dec 11 - 23 sell-off from Jan 4 high
  • SUP 4: 175.84 Low Nov 11 and a key support

Bund futures traded lower yesterday extending the recent sell-off from 178.37, Jan 4 high. Futures Monday cleared support at 177.01, the Dec 23 low. Furthermore, yesterday's move lower resulted in a break of 176.63, Dec 2 low reinforcing bearish conditions. This has opened 175.84 further out, Nov 11 low. On the upside, firm near term resistance is seen at 177.01 ahead of 177.47/50, the 20-and 50-day EMAs. Bearish!

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