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BUND TECHS: (H5) Monitoring Trendline Support

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: 133.00/71 50-day EMA / High Feb 5                 
  • PRICE: 132.88 @ 05:40 GMT Feb 14 
  • SUP 1: 131.97/62 Trendine drawn from the Jan 15 low / 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)     

The recent pullback in Bund futures resulted in a move through the 20-day EMA - currently at 132.61. This continues to signal scope for a deeper retracement and attention is on 131.97, a trendline drawn from the Jan 15 low. A break would expose a key support at 131.00, the Jan 16 / 24 low. For bulls, a stronger resumption of gains would refocus attention on the bull trigger at 133.71, Feb 5 high. A break of this level resumes the bull cycle.

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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: 133.00/71 50-day EMA / High Feb 5                 
  • PRICE: 132.88 @ 05:40 GMT Feb 14 
  • SUP 1: 131.97/62 Trendine drawn from the Jan 15 low / 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)     

The recent pullback in Bund futures resulted in a move through the 20-day EMA - currently at 132.61. This continues to signal scope for a deeper retracement and attention is on 131.97, a trendline drawn from the Jan 15 low. A break would expose a key support at 131.00, the Jan 16 / 24 low. For bulls, a stronger resumption of gains would refocus attention on the bull trigger at 133.71, Feb 5 high. A break of this level resumes the bull cycle.