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(H2) Bullish Outlook

BUND TECHS
  • RES 4: 143.68 1.382 proj of the Oct 21 - 28 - Nov 8 price swing
  • RES 3: 143.00 Round number resistance
  • RES 2: 142.71 1.236 proj of the Oct 21 - 28 - Nov 8 price swing
  • RES 1: 142.49 High Dec 2
  • PRICE: 142.13 @ 05:17 GMT Dec 7
  • SUP 1: 140.58 Low Dec 6
  • SUP 2: 139.62 Low Nov 29
  • SUP 3: 136.13 Low Nov 28 and a key short-term support
  • SUP 4: 138.34 Low Nov 18

Bund futures remain in an uptrend and recent pullbacks appear to have been a correction. Resistance at 141.94, the Nov 24 high, has been pierced. Moving average studies appear to be crossing and highlighting a bull mode condition. This signals a stronger reversal. Potential is seen for a climb to 142.71, a Fibonacci projection. Initial firm support has been defined at 139.13, the Nov 28 low.

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