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(H3) Bear Cycle Extends

  • RES 4: 140.78 High Dec 15
  • RES 3: 138.07 20-day EMA
  • RES 2: 137.76 High Dec 19
  • RES 1: 135.41/136.32 High Dec 23 / 19
  • PRICE: 133.39 @ 05:21 GMT Dec 28
  • SUP 1: 133.25 Low Dec 27
  • SUP 2: 133.00 Round number support
  • SUP 3: 132.67 2.50 proj of the Dec 7 - Dec 13 price swing
  • SUP 4: 132.25 2.618 proj of the Dec 7 - Dec 13 price swing

Bund futures remain in a downtrend - the current bear phase started Dec 7 and price traded lower once again Tuesday - starting the week on a bearish note. This confirms an extension of the downtrend and maintains the current price sequence of lower lows and lower highs. The contract has breached support at 134.50, the Nov 8 low. Sights are on the 133.00 handle next. On the upside, resistance is seen at 135.41, the Dec 23 high.

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