Free Trial

(H1) Downtrend Resumes

  • RES 4: 177.66 High Jan 29
  • RES 3: 177.05 50-day EMA
  • RES 2: 176.64 High Feb 11
  • RES 1: 175.70 Intraday high
  • PRICE: 175.54 @ 05:01 GMT Feb 15
  • SUP 1: 175.51 Intraday low
  • SUP 2: 175.31 1.382 proj of Jan 4 - 12 sell-off from Jan 27 high
  • SUP 3: 175.07 1.50 proj of Jan 4 - 12 sell-off from Jan 27 high
  • SUP 4: 175.00 Round number support

Bund futures are heavy again and Friday's sell-off has extended today. Today's weakness has seen price trade through support at 175.61, Feb 8 low. This confirms a resumption of the downtrend that started mid-December. With momentum studies in a clear bear mode too, scope is seen for an extension lower. Attention is on 175.31, a Fibonacci projection. On the upside, key trend resistance has been defined at 176.64, the Jan 11 high.

To read the full story



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.