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(H1) Strong Rebound

  • RES 4: 178.44 High Dec 21
  • RES 3: 178.37 High Jan 4 and a key resistance
  • RES 2: 178.27 High Jan 5
  • RES 1: 177.96 High Jan 14
  • PRICE: 177.89 @ 04:57 GMT Jan 26
  • SUP 1: 177.44 20-day EMA
  • SUP 2: 177.12 Low Jan 25
  • SUP 3: 176.63 Low Jan 22
  • SUP 4: 176.34 Low Jan 12 and the bear trigger

Bund futures started the week on a strong note rallying sharply and extending the bounce off Friday's 176.63 low. The contract is approaching resistance at 177.96, Jan 14 high where a break would reinforce a bullish picture and signal scope for a move towards 178.37, Jan 4 high. On the downside, initial support is seen at the 20-day EMA, at 177.44. Price however needs to move below yesterday's low of 177.12 to reinstate a bearish theme.

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