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(H4) Testing Resistance

BUND TECHS
  • RES 4: 134.98 High Feb 5
  • RES 3: 134.60 High Feb 7
  • RES 2: 134.18 High Feb 15
  • RES 1: 133.96 Trendline resistance drawn from the Dec 28 high
  • PRICE: 133.65 @ 14:41 GMT Mar 5
  • SUP 1: 131.62 Low Feb 29
  • SUP 2: 131.49 61.8% retracement of the Oct 4 - Dec 27 bull phase
  • SUP 3: 130.47 Low Nov 24
  • SUP 4: 129.76 76.4% retracement of the Oct 4 - Dec 27 bull phase

Bund futures have traded higher again today and in the process, the contract has breached resistance at 133.14, the 20-day EMA. Price has also pierced 133.68, the 50-day EMA. A clear break of this average would signal scope for an extension and open 134.18, the Feb 15 high. A clear breach of the 50-day EMA would also potentially highlight a possible reversal. On the downside, the bear trigger lies at 131.62, the Feb 29 low.

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