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(H4) Uptrend Remains Intact

  • RES 4: 136.39 2.50 proj of the Nov of the 13 - 17 - 24 price swing
  • RES 3: 136.12 2.382 proj of the Nov of the 13 - 17 - 24 price swing
  • RES 2: 136.00 Round number resistance
  • RES 1: 135.81 High Dec 7
  • PRICE: 135.09 @ 05:19 GMT Dec 12
  • SUP 1: 133.91 Low Dec 4
  • SUP 2: 132.98 20-day EMA
  • SUP 3: 132.09 High Nov 17 and a recent breakout point
  • SUP 4: 130.47 Low Nov 24 and key support

Bund futures maintain a firmer short-term tone following last week’s continuation higher. The break on Nov 29 above 132.09, the Nov 17 high, confirmed a resumption of the uptrend. That break higher maintains the bullish price sequence of higher highs and higher lows and sights are on the 136.00 handle next. Initial firm support lies at 132.98, the 20-day EMA. A short-term pullback would be considered corrective.

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