Free Trial

(H3) Corrective Bear Cycle Extends

BUND TECHS
  • RES 4: 143.68 1.382 proj of the Oct 21 - 28 - Nov 8 price swing
  • RES 3: 143.00 Round number resistance
  • RES 2: 141.70/142.91 High Dec 13 / 7 and the bull trigger
  • RES 1: 140.21 20-day EMA
  • PRICE: 138.31 @ 05:03 GMT Dec 16
  • SUP 1: 138.12 Low Dec 15
  • SUP 2: 137.71 61.8% retracement of the Nov 8 - Dec 7 bull cycle
  • SUP 3: 137.42 Low Nov 11
  • SUP 4: 136.80 Low Nov 10

Bund futures traded lower Thursday to extend the current bear phase that started Dec 7. The move lower yesterday resulted in a break of support at 139.13, the Nov 28 low and this suggests scope for a deeper retracement. A break of the 138.00 handle would open 137.42, the Nov 11 low. On the upside, initial firm resistance to watch is at 141.70, the Dec 13 high. The bull trigger is 142.91, the Dec 7 high.

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.