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(H1) Bullish Focus

BUND TECHS
  • RES 4: 179.17 High Nov 4 and key resistance
  • RES 3: 179.01 High Nov 5
  • RES 2: 178.89 1.00 proj of Nov 11 - 30 rally from Dec 2 low
  • RES 1: 178.77 High Dec 11
  • PRICE: 178.28 @ 05:07 GMT Dec 16
  • SUP 1: 177.82/77 20-day EMA / Low Dec 10 and key S/T support
  • SUP 2: 177.36 Low Dec 7
  • SUP 3: 177.15 Low Dec 4
  • SUP 4: 176.63 Low Dec 2 and the near-term bear trigger

Bund futures are unchanged and maintain a positive tone trading close to recent highs. A bullish theme follows last week's climb and breach of 178.10, Nov 30 high. The break signals scope for an extension of the recovery that started Nov 11 and opens 178.89 next, a Fibonacci projection. On the downside, key support has been defined at 176.63, Dec 2 low. A break is required to reinstate a bearish theme. Initial firm support lies at 177.77.

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