Free Trial

(H3) Bearish Extension

BUND TECHS
  • RES 4: 142.55 High Dec 8
  • RES 3: 141.70 High Dec 13
  • RES 2: 140.73 High Jan 19 and the bull trigger
  • RES 1: 137.96/139.36 50-day EMA / High Jan 25 and key resistance
  • PRICE: 136.84 @ 14:13 GMT Jan 30
  • SUP 1: 136.38 Intraday low
  • SUP 2: 136.04 Low Jan 10
  • SUP 3: 135.71 61.8% retracement of the Jan 2 - 19 bull run
  • SUP 4: 135.08 Low Jan 4

Bund futures traded lower today, extending the break of support last week at 137.53, the Jan 16 low. The move lower threatens a recent bullish theme and the clear break of 137.53 signals scope for a deeper retracement near-term. This opens 136.04, the Jan 10 low. On the upside, key short-term resistance has been defined at 139.36, the Jan 25 high. Clearance of this hurdle would signal a base and a reversal. Initial resistance is at 137.96, the 50-day EMA.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.