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(H2) Remains Above Recent Lows

BUND TECHS
  • RES 4: 171.77 Low Nov 24 and recent breakout level
  • RES 3: 171.67 50-day EMA
  • RES 2: 171.00 High Jan 13
  • RES 1: 170.70 20-day EMA
  • PRICE: 170.20 @ 04:58 GMT Jan 24
  • SUP 1: 168.95 Low Jan 19
  • SUP 2: 168.84 3.764 proj of the Dec 8 - Dec 20 price swing
  • SUP 3: 168.46 4.00 proj of the Dec 8 - Dec 20 price swing
  • SUP 4: 168.00 Round number support

Bund futures remain above recent lows. The outlook is bearish though following last week’s resumption of the downtrend - key support at 169.34, Oct 29 low has been breached. An extension lower and a clear break strengthens bearish conditions and opens 168.84 next, a Fibonacci projection. Key short-term resistance has been defined at 171.00, the Jan 13 high. Clearance of this level would signal a short-term reversal.

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