(H4) Breaches Support

• RES 4: 137.96 High Jan 4
• RES 3: 137.59 76.4% retracement of the Dec 27 - Jan 25 bear leg
• RES 2: 136.82 61.8% retracement of the Dec 27 - Jan 25 bear leg
• RES 1: 134.72/136.29 20-day EMA / High Feb 1 and the bull trigger
• PRICE: 133.50 @ 05:21 GMT Feb 9
• SUP 1: 133.34 Low Feb 8
• SUP 2: 132.89 50.0% retracement of the Oct 4 - Dec 27 bull phase
• SUP 3: 132.29 Low Nov 29
• SUP 4: 131.49 61.8% retracement of the Oct 4 - Dec 27 bull phase

Bund futures remain in a bearish mode. The contract has traded below the key short-term support at 133.55, the Jan 25 low. A clear break of this level would strengthen a bearish threat and confirm a resumption of the bear cycle that started Dec 27. The focus is on 132.89, a Fibonacci retracement. For bulls, clearance of 136.29, the Feb 1 high, is required to signal a reversal Initial resistance is at 134.72, the 20-day EMA.