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(M1) Probes Support

BUND TECHS
  • RES 4: 172.34 High Mar 29
  • RES 3: 172.12 High Apr 8 and key near-term resistance
  • RES 2: 171.62 High Apr 14
  • RES 1: 171.05/27 20-day EMA / High Apr 22
  • PRICE: 170.50 @ 05:01 BST Apr 29
  • SUP 1: 170.05/04 76.4% of Feb 25 - Mar 25 rally / Low Apr 28
  • SUP 2: 170.00 Round number support
  • SUP 3: 169.24 Low Feb 24 and major support
  • SUP 4: 168.96 0.618 proj of the Jan 27 - Feb 25 - Mar 25 price swing

Bund futures remain below resistance at 171.27, Apr 22 high and just above the 20-day EMA. A clear break of this average and of 171.27 is required to signal scope for a stronger bullish theme and a recovery. This would open 171.62, Apr 14 high. Attention is on the downside though and yesterday price probed support at 170.05, a Fibonacci retracement. A break would resume bearish pressure and open 169.24, the major support.

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