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(H3) Trend Direction Remains Down

BUND TECHS
  • RES 4: 140.78 High Dec 15
  • RES 3: 137.76 High Dec 19
  • RES 2: 137.09 20-day EMA
  • RES 1: 135.41/136.32 High Dec 23 / 19
  • PRICE: 134.09 @ 05:18 GMT Dec 30
  • SUP 1: 133.25 Low Dec 27
  • SUP 2: 133.00 Round number support
  • SUP 3: 132.67 2.50 proj of the Dec 7 - Dec 13 price swing
  • SUP 4: 132.25 2.618 proj of the Dec 7 - Dec 13 price swing

Bund futures are trading at recent lows and remain in a downtrend - the current bear phase started Dec 7. Recent cycle lows confirm an extension of the downtrend and maintain the current price sequence of lower lows and lower highs. The contract has breached support at 134.50, the Nov 8 low. Sights are on the 133.00 handle next. On the upside, resistance is seen at 135.41, the Dec 23 high.

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