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(H3) Support Remains Intact

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: 139.55/140.73 High Jan 20 / 19 and the bull trigger
  • PRICE: 137.75 @ 04:59 GMT Jan 24
  • SUP 1: 137.53 Low Jan 16 and a key short-term support
  • SUP 2: 136.46 Low Jan 11
  • SUP 3: 136.04 Low Jan 10
  • SUP 4: 135.71 61.8% retracement of the Jan 2 - 19 bull run

Bund futures remain in an uptrend despite the latest pullback - the move lower is considered corrective and the contract remains above support. Last week’s trend highs confirmed a resumption of the bull cycle and this maintains a price sequence of higher highs and higher lows. Potential is seen for a climb towards 141.70, the Dec 13 high. Initial firm support is at 137.53, the Jan 16 low. A break would threaten the bullish theme.

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