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(H3) Bullish Conditions Still Intact

BUND TECHS
  • RES 4: 141.06 High Dec 14
  • RES 3: 140.48 76.4% retracement of the Dec 7 - Jan 3 bear leg
  • RES 2: 140.00 Round number resistance
  • RES 1: 139.09 High Jan 12 and the bull trigger
  • PRICE: 138.06 @ 05:04 GMT Jan 17
  • SUP 1: 137.00 20-day EMA
  • SUP 2: 136.04/135.74 Low Jan 10 / 6
  • SUP 3: 135.08 Low Jan 4 and a key short-term support
  • SUP 4: 133.79 Low Jan 3

Bund futures are unchanged but remain in an uptrend and the contract is holding on to its recent gains. Price has recently traded through the 20-day EMA and short-term signals suggest scope for a continuation higher near-term. Sights are on 138.97, 61.8% of the Dec 7 - Jan 3 bear leg. This level has been pierced, a clear break would open the 140.00 handle. On the downside, initial firm support is at 136.04, the Jan 10 low.

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