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BUND TECHS: (H5) Retracement Extends

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: 132.36 @ 05:46 GMT Feb 13 
  • SUP 1: 131.90/62 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)     

Bund futures traded lower Wednesday as the contract extends the pullback from the Feb 5 high. Price has traded through support at the 20-day EMA - at 132.63. This signals scope for a deeper retracement and sights are on 131.90, a trendline drawn from the Jan 15 low. A key support lies at 131.00, the Jan 16 / 24 low. Key resistance and the bull trigger has been defined at 133.71, the Feb 5 high. A break of it would resume the recent 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: 132.36 @ 05:46 GMT Feb 13 
  • SUP 1: 131.90/62 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)     

Bund futures traded lower Wednesday as the contract extends the pullback from the Feb 5 high. Price has traded through support at the 20-day EMA - at 132.63. This signals scope for a deeper retracement and sights are on 131.90, a trendline drawn from the Jan 15 low. A key support lies at 131.00, the Jan 16 / 24 low. Key resistance and the bull trigger has been defined at 133.71, the Feb 5 high. A break of it would resume the recent bull cycle.