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BUND TECHS: (H5) Bull Cycle Still In Play

BUND TECHS
Fixed Income Technical AnalysisCredit BulletsBundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletMarketsFixed Income Bullets
  • RES 4: 134.94 High Dec 17            
  • RES 3: 134.54 61.8% retracement of the Dec 2 - Jan 14 bear leg
  • RES 2: 134.29 High Dec 20
  • RES 1: 133.73 50.0% retracement of the Dec 2 - Jan 14 bear leg                 
  • PRICE: 132.64 @ 05:28 GMT Feb 12 
  • SUP 1: 132.63/131.62 20-day EMA / Low Jan 31      
  • SUP 2: 131.00 Low Jan 16 / 24            
  • SUP 3: 131.00/130.28 Low Jan 16 / Low Jan 15 and the bear trigger
  • SUP 4: 130.44 Low Jul 5 ‘24 (cont)     

Bund futures remain in a bull cycle for now, despite Tuesday’s pullback.  Price has recently cleared both the 20- and 50-day EMAs. The break higher confirms a resumption of the corrective bull cycle that started Jan 14. A continuation higher would open 133.73, a Fibonacci retracement point and the next important resistance. Firm short-term support has been defined at 131.00, the Jan 16 / 24 low.

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  • RES 4: 134.94 High Dec 17            
  • RES 3: 134.54 61.8% retracement of the Dec 2 - Jan 14 bear leg
  • RES 2: 134.29 High Dec 20
  • RES 1: 133.73 50.0% retracement of the Dec 2 - Jan 14 bear leg                 
  • PRICE: 132.64 @ 05:28 GMT Feb 12 
  • SUP 1: 132.63/131.62 20-day EMA / Low Jan 31      
  • SUP 2: 131.00 Low Jan 16 / 24            
  • SUP 3: 131.00/130.28 Low Jan 16 / Low Jan 15 and the bear trigger
  • SUP 4: 130.44 Low Jul 5 ‘24 (cont)     

Bund futures remain in a bull cycle for now, despite Tuesday’s pullback.  Price has recently cleared both the 20- and 50-day EMAs. The break higher confirms a resumption of the corrective bull cycle that started Jan 14. A continuation higher would open 133.73, a Fibonacci retracement point and the next important resistance. Firm short-term support has been defined at 131.00, the Jan 16 / 24 low.