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(H2) Trend Needle Still Points North

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: 175.02 High Dec 8 and the bull trigger
  • PRICE: 174.31 @ 05:10 GMT Dec 16
  • SUP 1: 173.76/40 20-day EMA / 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 are consolidating but the contract remains in an uptrend. Price continues to trade above the 20-day EMA, at 173.76 today. A break of this average is required to strengthen a bearish threat and would signal scope for a deeper pullback. For bulls, clearance of 175.02, the Dec 8 high, would confirm a resumption of the uptrend and open 175.29, a Fibonacci projection. Moving average conditions are in a bull mode.

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