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(H3) Sell-Off Gathers Pace

  • 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: 134.24 @ 15:07 GMT Feb 15
  • SUP 1: 134.22 Low Feb 16
  • SUP 2: 133.88 2.0% 10-dma envelope
  • SUP 3: 133.79 Low Jan 3
  • SUP 4: 132.60 Low Jan 2

Bund futures fell further still Thursday as the current sell-off gathers pace. This put prices at fresh lows of 134.22 just ahead of the European close, setting up markets for a bearish weekly candle. The weakness gathered pace on the break below 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 133.79, the Jan 3. On the upside, resistance to watch is at 137.71, the 50-day EMA.

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