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(H1) Sharp Slide

BUND TECHS
  • RES 4: 176.95 50-day EMA
  • RES 3: 176.64 High Feb 11
  • RES 2: 175.70 High Feb 15
  • RES 1: 175.49 High Dec 16
  • PRICE: 174.60 @ 05:03 GMT Feb 17
  • SUP 1: 174.37 Low Dec 2, 2020 (cont)
  • SUP 2: 174.06 2.00 proj of Jan 4 - 12 sell-off from Jan 27 high
  • SUP 3: 173.58 2.236 proj of Jan 4 - 12 sell-off from Jan 27 high
  • SUP 4: 173.06 Low Sep 10, 2020 (cont)

Bund futures remain heavy and a fresh low has been registered overnight. Monday's activity resulted in price trading 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 174.37 next, Dec 2, 2020 low (cont). On the upside, initial resistance is at yesterday's high of 175.45.

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