Free Trial

(H1) Oversold Conditions Unwinds

BUND TECHS
  • RES 4: 175.70 High Feb 15
  • RES 3: 175.26 High Feb 18
  • RES 2: 175.07 20-day EMA
  • RES 1: 174.847 Intraday high
  • PRICE: 174.76 @ 04:58 GMT Mar 2
  • SUP 1: 173.77 Low Mar 1
  • SUP 2: 173.07 Intraday hourly low during the Feb 26 session
  • SUP 3: 172.08 Low Feb 25 and the bear trigger
  • SUP 4: 171.82 61.8% retracement of the Mar - Dec 2020 rally (cont)

Bund futures ended last week on a volatile note and started this week on a firmer note. Despite the strong rebound off Thursday's low of 172.08, trend conditions remain bearish and the recovery is considered a correction with recent oversold trend conditions unwinding. The focus is on the 20-day EMA at 175.07. A break of this average would signal scope for a stronger move higher. Initial support is at 173.77, Monday's 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.