January 19, 2023 05:26 GMT
(H3) Resumes Its Uptrend
BUND TECHS
- RES 4: 142.91 High Dec 7 and key resistance
- RES 3: 142.55 High Dec 8
- RES 2: 141.70 High Dec 13
- RES 1: 140.68 High Jan 18
- PRICE: 140.53 @ 05:09 GMT Jan 19
- SUP 1: 138.97 Low Jan 18
- SUP 2: 137.53 Low Jan 16 and a key short-term support
- SUP 3: 136.46 Low Jan 11
- SUP 4: 136.04 Low Jan 10
Bund futures remain in an uptrend and the contract traded higher Wednesday to confirm a resumption of the bull cycle. The move higher maintains a bullish price sequence of higher highs and higher lows. Furthermore, price has breached all retracement points of the Dec 7 - Jan 3 bear leg, reinforcing current bullish conditions. Sights are on 141.70 next, the Dec 13 high. On the downside, initial firm support is at 137.53, the Jan 16 low.
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