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(H2) Trades Through Trendline Resistance

BUND TECHS
  • RES 4: 170.42 High Jan 27
  • RES 3: 169.68 50.0% retracement of the Dec 8 - Feb 16 downleg
  • RES 2: 168.66 50-day EMA
  • RES 1: 167.82 Intraday high
  • PRICE: 167.51 @ 04:43 GMT Feb 24
  • SUP 1: 165.16 Low Feb 22
  • SUP 2: 164.34 Low Feb 16 and the bear trigger
  • SUP 3: 164.00 Round number support
  • SUP 4: 163.63 Low Mar, 2019 (cont)

Bund futures have traded sharply higher today, reversing Tuesday’s pullback and have breached resistance at 167.17, Feb 22 high and trendline resistance at 167.20. The trendline is drawn from the Dec 20 high. This signals scope for a stronger short-term correction and has opened the 50-day EMA at 168.66. This EMA represents a key resistance area. Initial support to watch is at 165.16, the Feb 22 low.

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