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(H4) Momentum Studies Point South

BUND TECHS
  • RES 4: 140.00 Psychological round number
  • RES 3: 139.39 3.764 proj of the Nov of the 13 - 17 - 24 price swing
  • RES 2: 137.96/138.84 High Jan 4 / High Dec 27 and the bull trigger
  • RES 1: 136.26 20-day EMA
  • PRICE: 135.87 @ 07:56 GMT Jan 05
  • SUP 1: 135.06 Low Jan 05
  • SUP 2: 134.68 2.0% 10-dma Envelope
  • SUP 3: 134.37 Low Dec 8 and a key support
  • SUP 4: 133.42 Low Dec 4

Bund futures ended last week’s session on a softer note despite Friday’s bounce from the low of the day. Weakness below the 20-day EMA risks a deeper short-term reversal, which would open 134.68 ahead of the key support at the Dec 8 low of 134.37. Momentum studies are pointing south, highlighting the short-term bearish threat. On the upside, a resumption of gains would open 138.84, the Dec 27 high and a bull trigger.

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