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(H3) Bearish Outlook

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: 137.91/139.36 50-day EMA / High Jan 25 and key resistance
  • PRICE: 136.61 @ 04:58 GMT Jan 31
  • SUP 1: 136.38 Low Jan 30
  • 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 Monday, extending the recent break of support 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 137.91, the 50-day EMA.

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