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(H4) Trend Needle Points North

  • RES 4: 135.00 Round number resistance
  • RES 3: 135.77 2.236 proj Nov of the 13 - 17 - 24 price swing
  • RES 2: 135.21 2.000 proj of the Nov 13 - 17 - 24 price swing
  • RES 1: 135.04 High Dec 5 and intraday high
  • PRICE: 134.76 @ 05:07 GMT Dec 6
  • SUP 1: 133.42/132.59 Low Dec 4 / 1
  • SUP 2: 131.99 20-day EMA
  • SUP 3: 130.47 Low Nov 24 and key support
  • SUP 4: 129.72 Low Nov 13

Bund futures maintain a firmer short-term tone following last week’s gains and this week’s continuation higher. The contract traded above 132.09 last week, the Nov 17 high, confirming a resumption of the uptrend. The break higher maintains the bullish price sequence of higher highs and higher lows and sights are on 135.21 next, a Fibonacci projection. Initial firm support lies at 131.99, the 20-day EMA.

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