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(H2) Probes The 20-Day EMA

BUND TECHS
  • RES 4: 176.00 Round number resistance
  • RES 3: 175.57 1.618 proj of the Nov 11 - 22 - 24 price swing
  • RES 2: 175.29 1.50 proj of the Nov 11 - 22 - 24 price swing
  • RES 1: 174.75/175.02 High Dec 8 and the bull trigger
  • PRICE: 174.11 @ 14:36 GMT Dec 16
  • SUP 1: 173.40 Low Dec 8
  • SUP 2: 172.70 Low Nov 26
  • SUP 3: 171.77 Low Nov 24 and key near-term support
  • SUP 4: 170.72 Low Nov 4

Bund futures have traded in a choppy manner today. The sharp move lower has managed to remain above support 173.40, the Dec 8 low. The print below the 20-day EMA today is potentially an early bearish signal and a break of 173.40 would reinforce this threat. A move lower would open 172.70, initially, the Nov 26 low. On the upside, the bull trigger is unchanged at 175.02, Dec 8 high.

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