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(H2) Fresh Trend Lows

BUND TECHS
  • RES 4: 169.98 50-day EMA
  • RES 3: 168.1120-day EMA
  • RES 2: 167.00 High Feb 4
  • RES 1: 166.11 Jan 8 high
  • PRICE: 164.58 @ 05:06 GMT Feb 11
  • SUP 1: 164.37 Intraday low
  • SUP 2: 164.00 Round number support
  • SUP 3: 163.63 Low Mar, 2019 (cont)
  • SUP 4: 162.60 76.4% retrace of the Oct ‘18 - Sep ‘19 bull cycle (cont)

Bund futures remain in a clear downtrend and the contract traded lower again yesterday, resuming its downtrend. This week’s move lower has reinforced bearish conditions and maintains the bearish price sequence of lower lows and lower highs. Moving average conditions are in a bear mode too highlighting current sentiment. Scope is seen for a move towards the 164.00 handle next. 166.11 is initial resistance, Jan 8 high.

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