Free Trial

(H1) Retracing Recent Gains

BUND TECHS
  • RES 4: 178.89 1.00 proj of Nov 11 - 30 rally from Dec 2 low
  • RES 3: 178.77 High Dec 11
  • RES 2: 178.31 High Dec 16
  • RES 1: 177.79 50% of yesterday range
  • PRICE: 177.52 @ 04:46 GMT Dec 17
  • SUP 1: 177.21 Trendline support drawn off the Nov 11 low
  • SUP 2: 177.14 76.4% retracement of the Dec 2 - 11 rally
  • SUP 3: 176.83 Low Dec 3
  • SUP 4: 176.63 Low Dec 2 and the near-term bear trigger

Bund futures sold off sharply yesterday as the contract retraces the recent rally between Dec 2 - 11. The 20-day EMA has been cleared, placing on hold a recent bullish view. Further weakness would open 177.21, a trendline support drawn off the Nov 11 low and 177.15, 76.4% retracement of the Dec 2 - 11 rally, ahead of 177.36, the Dec 7 low. On the upside, initial resistance firm resistance is at yesterday's 178.31 high.

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.