Free Trial

(H1) Clears Key Resistance

BUND TECHS
  • RES 4: 179.17 High Nov 4 and key resistance
  • RES 3: 179.01 High Nov 5
  • RES 2: 178.55 High Nov 9
  • RES 1: 178.35/38 High Dec 8 / 76.4% of the Nov 4 - 11 sell-off
  • PRICE: 178.05 @ 05:00 GMT Dec 9
  • SUP 1: 177.36 Low Dec 7
  • SUP 2: 177.15 Low Dec 4
  • SUP 3: 176.63 Low Dec 2 and the near-term bear trigger
  • SUP 4: 175.84 Low Nov 11 and the bear trigger

Bund futures traded higher once again yesterday, this time clearing resistance at 178.10, Nov 30 high and the bull trigger. Clearance of this hurdle signals scope for an extension of the recovery that started Nov 11 and opens 178.38, a Fibonacci retracement. On the downside, initial key support has been defined at 176.63, Dec 2 low. A break of this level is required to reinstate a bearish theme. Initial support lies at 177.36, Dec 7 low.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.