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(H3) Bearish Outlook

BUND TECHS
  • RES 4: 142.59 0.764 proj of the Jan 2 - 19 - 30 price swing
  • RES 3: 141.70 High Dec 13
  • RES 2: 140.73 High Jan 19 and the bull trigger
  • RES 1: 137.71/139.86 50-day EMA / High Feb 2
  • PRICE: 135.00 @ 15:07 GMT Feb 15
  • SUP 1: 134.82 Low Feb 15
  • SUP 2: 134.52 76.4% retracement of the Jan 2 - 19 bull run
  • SUP 3: 133.88 2.0% 10-dma envelope
  • SUP 4: 133.79 Low Jan 3

Bund futures fell further Wednesday, slipping to the week’s lowest levels ahead of the European close. The contract has extended lower through 135.08, the Jan 4 low. Moving average studies are in a bear-mode position, reinforcing current conditions and highlighting bearish sentiment. Next notable level crosses at 134.52, the 76.4% retracement of the Jan 2 - 19 bull run. On the upside, resistance to watch is at 137.71, the 50-day EMA.

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