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(H1) Sell-Off Exposes Key Support

BUND TECHS
  • RES 4: 178.27 High Jan 5
  • RES 3: 177.96 High Jan 14
  • RES 2: 177.81 High Jan 18
  • RES 1: 177.56 High Jan 21
  • PRICE: 176.68 @ 05:06 GMT Jan 22
  • SUP 1: 176.63 Intraday low
  • SUP 2: 176.34 Low Jan 12 and the bear trigger
  • SUP 3: 175.93 1.00 proj of the Jan 41 - 12 sell-off from Jan 14 high
  • SUP 4: 175.84 Low Nov 11 and a primary support

Bund futures traded lower yesterday and cleared support at 176.96, 61.8% of the rally between Jan 12 - 14. The move lower undermines the recent bullish theme and instead signals scope for a pullback to retest support at 176.34, Jan 12 low and a bear trigger. Moving average studies have entered a bear mode reinforcing the downside risk. On the upside, resistance is at 177.56, yesterday's high.

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