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(H1) Strong Gains

BUND TECHS
  • RES 4: 179.07 High Nov 5
  • RES 3: 178.77 High Dec 11 and a key near-term resistance
  • RES 2: 178.44 High Dec 21
  • RES 1: 178.37 High Jan 4
  • PRICE: 178.20 @ 04:49 GMT Jan 5
  • SUP 1: 177.59 50-day EMA
  • SUP 2: 177.27 Low Dec 30
  • SUP 3: 177.01 Low Dec 23 and key support
  • SUP 4: 176.83 Low Dec 3

Bund futures traded higher yesterday and the contract is holding onto recent gains. The recovery negates the bearish implications of the sharp Dec 23 sell-off. Further gains would open resistance at 178.44, Dec 21 high where a break would signal scope for a climb towards the key resistance at 178.77, Dec 11 high. On the downside, initial firm support has been defined at 177.27, Dec 30 low.

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