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(H4) Trend Condition Remains Bearish

  • RES 4: 136.29 High Feb 1 and the bull trigger
  • RES 3: 135.88 High Feb 2
  • RES 2: 134.60 High Feb 7
  • RES 1: 134.21 20-day EMA
  • PRICE: 132.94 @ 08:22 GMT Feb 21
  • SUP 1: 132.71 Low Feb 16
  • SUP 2: 132.29 Low Nov 29
  • SUP 3: 131.49 61.8% retracement of the Oct 4 - Dec 27 bull phase
  • SUP 4: 130.47 Low Nov 24

Bund futures remain in a bear mode condition and recent short-term gains appear to have been a correction. The contract has recently breached key short-term support at 133.55, the Jan 25 low, to confirm a resumption of the bear cycle that started Dec 27. The focus is on 132.29 next, the Nov 29 low. For bulls, clearance of 136.29, the Feb 1 high, is required to signal a reversal. Initial resistance is at 134.21, the 20-day EMA.

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