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MNI China Daily Summary: Friday, March 24

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(H3) Strong Rally

BUND TECHS
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income News
  • 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: 139.86 High Feb 2
  • PRICE: 139.40 @ 04:57 GMT Feb 3
  • SUP 1: 137.90/136.38 50-day EMA / Low Jan 30
  • SUP 2: 136.04 Low Jan 10
  • SUP 3: 135.71 61.8% retracement of the Jan 2 - 19 bull run
  • SUP 4: 135.08 Low Jan 4

Bund futures rallied sharply higher Thursday and cleared initial resistance at 137.90, the 50-day EMA. The break signals potential for stronger near-term gains and note that price has also breached resistance at 139.36, the Jan 25 high. A continuation higher would expose 140.73, the Jan 19 high and a bull trigger. A break of this level would strengthen a bullish case. Key support and bear trigger has been defined at 136.38, the Jan 30 low.

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  • 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: 139.86 High Feb 2
  • PRICE: 139.40 @ 04:57 GMT Feb 3
  • SUP 1: 137.90/136.38 50-day EMA / Low Jan 30
  • SUP 2: 136.04 Low Jan 10
  • SUP 3: 135.71 61.8% retracement of the Jan 2 - 19 bull run
  • SUP 4: 135.08 Low Jan 4

Bund futures rallied sharply higher Thursday and cleared initial resistance at 137.90, the 50-day EMA. The break signals potential for stronger near-term gains and note that price has also breached resistance at 139.36, the Jan 25 high. A continuation higher would expose 140.73, the Jan 19 high and a bull trigger. A break of this level would strengthen a bullish case. Key support and bear trigger has been defined at 136.38, the Jan 30 low.