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(H1) Clears Support

BUND TECHS
  • RES 4: 178.44 High Dec 21
  • RES 3: 178.37 High Jan 4
  • RES 2: 177.85 High Jan 6
  • RES 1: 177.54/57 50-and 20-day EMAs
  • PRICE: 176.79 @ 05:06 GMT Jan 12
  • SUP 1: 176.63 Low Dec 2 and key support
  • SUP 2: 176.83 Low Dec 3
  • SUP 3: 176.53 76.4% retracement of the Nov 11 - Dec 11 rally
  • SUP 4: 176.19 1.236 proj of the Dec 11 - 23 sell-off from Jan 4 high

Bund futures traded lower yesterday extending last week's sell-off from 178.37, Jan 1 high. Futures yesterday cleared support at 177.01, the Dec 23 low. The break of this level strengthens a bearish case and sets the scene for a deeper decline with the focus on 176.63, Dec 2 low. A breach here would open 175.84 further out, Nov 11 low. On the upside, firm near term resistance is seen at 177.54/57, the 50-and 20-day EMAs.

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