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(H3) Bear Cycle Intact

BUND TECHS
  • RES 4: 140.78 High Dec 15
  • RES 3: 139.32 20-day EMA
  • RES 2: 138.62 High Dec 16
  • RES 1: 137.76 High De 19
  • PRICE: 135.752 @ 05:20 GMT Dec 21
  • SUP 1: 135.60 Intraday low
  • SUP 2: 135.00 Round number support
  • SUP 3: 134.50 Low Nov 8 and a key support
  • SUP 4: 134.02 Low Oct 21 (cont)

Bund futures traded lower last week to extend the current bear phase that started Dec 7. The contract has maintained a bearish tone this week. Recent weakness resulted in a break of support at 139.13, Nov 28 low, strengthening a bearish threat. Furthermore, a number of additional support points have been cleared. The focus is on 135.00 next. On the upside, initial firm resistance is seen at 139.32, the 20-day EMA.

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