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(H1) Bullish Focus

BUND TECHS
  • RES 4: 178.44 High Dec 21
  • RES 3: 178.37 High Jan 4 and a key resistance
  • RES 2: 178.27 High Jan 5
  • RES 1: 178.12 High Jan 27
  • PRICE: 177.56 @ 04:58 GMT Jan 29
  • SUP 1: 177.39/30 Low Jan 27 / 50.0% of the Jan 22 - 26 bounce
  • SUP 2: 177.12 Low Jan 25
  • SUP 3: 176.63 Low Jan 22
  • SUP 4: 176.34 Low Jan 12 and the bear trigger

Bund futures traded through resistance at 177.96 Wednesday, the Jan 14 high. Despite a pullback from that day's high of 178.12, the near-term outlook remains bullish. A clear break of 177.96 would reinforce a bullish picture and open 178.37, Jan 4 high. On the downside, initial support is seen at 177.39/30, Wednesday's low and a retracement level. Price however needs to move below Monday's 177.12 low to reinstate a bearish theme.

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