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JGBS AUCTION

PREVIEW: 5-Year Supply Due

CHINA RATES

Futures Hit Contract High

JGBS

Equities Dip Lends Support

THAILAND

MPC Meeting Minutes Released

(H1) Clears All Retracements

BUND TECHS
  • RES 4: 178.44 High Dec 21
  • RES 3: 178.37 High Jan 4 and key resistance
  • RES 2: 178.27 High Jan 5
  • RES 1: 177.96 High Jan 14
  • PRICE: 177.78 @ 08:26 GMT Jan 18
  • SUP 1: 177.32 Low Jan 14
  • SUP 2: 176.72 Low Jan 13
  • SUP 3: 176.34 Low Jan 12 and the bear trigger
  • SUP 4: 176.19 1.236 proj of the Dec 11 - 23 sell-off from Jan 4 high

Bund futures traded higher again into the end of last week as the contract retraces the recent move lower between Jan 4 - 12. Price has cleared all key retracement levels. This suggests potential for a stronger climb, with the focus on 178.00 and more importantly on the 178.37 high from Apr 4. Yesterday's high of 177.96 marks the intraday bull trigger. On the downside, initial support lies at last Thursday's low of 177.32.