Free Trial

(M18) Below 21-DMA To Ease Bullish.......>

BUND TECHS
BUND TECHS: (M18) Below 21-DMA To Ease Bullish Pressure
*RES 4: 160.26 Low Dec 13 now resistance
*RES 3: 159.99 Bollinger band top
*RES 2: 159.69 Monthly High Mar 28
*RES 1: 159.55 High Apr 18
*PREVIOUS CLOSE: 159.26
*SUP 1: 158.91 High May 2 now support
*SUP 2: 158.81 21-DMA
*SUP 3: 158.38 Low Apr 30
*SUP 4: 157.90 Hourly resistance Apr 26 now support
*COMMENTARY: Bullish confidence grew with a close above the 21-DMA that sees
immediate focus on 159.69 and bulls looking for a close above to shift initial
focus to 160.26-98 where Dec highs are noted. Bears still need a close below the
21-DMA to gain breathing room and below 158.38 to target a correction back to
157.34-43. Daily studies now approaching O/B are a concern for bulls. The
Bollinger top is expected to limit follow through on a break higher.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.