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(H1) Remains Weak

BUND TECHS
  • RES 4: 178.12 High Jan 27 and the bull trigger
  • RES 3: 177.66 High Jan 29
  • RES 2: 177.11 20-day EMA
  • RES 1: 176.48/70 Intraday high / High Feb 3
  • PRICE: 175.93 @ 04:58 GMT Feb 8
  • SUP 1: 176.63 Low Feb 5
  • SUP 2: 175.61 1.236 proj of Jan 4 - 12 sell-off from Jan 27 high
  • SUP 3: 175.31 1.382 proj of Jan 4 - 12 sell-off from Jan 27 high
  • SUP 4: 175.07 1.50 proj of Jan 4 - 12 sell-off from Jan 27 high

Bund futures remain weak and the contract Friday extended the recent strong sell-off . Price last week traded through support at 176.89, Jan 29 low, a short-term trendline support at 176.88 drawn off the Jan 12 low and 176.34, the Jan 12 low. Furthermore, Friday saw a breach of support at 175.84, Nov 11 low. The focus shifts to 175.31, a Fibonacci projection. Initial resistance is seen at 176.48.

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