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Free Access(H2) Outlook Stabilising
- RES 4: 169.61 50-day EMA
- RES 3: 167.56 20-day EMA
- RES 2: 167.00 High Feb 4
- RES 1: 166.46 Feb 11 high
- PRICE: 165.86 @ 16:22 GMT Feb 17
- SUP 1: 164.34 Low Feb 16 and the bear trigger
- 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 recovered off the day’s lows ahead of the Wednesday close and built further through the Thursday session. This rally is deemed corrective, however, with the broader outlook bearish for now. Downside pressure so far this month has reinforced current trend conditions, with moving averages in a bear mode set-up too. The focus is on the 164.00 handle next. 166.46 is initial resistance, the Feb 11 high.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.