Free Trial

(M18) Congested Resistance Seen..........>

BUND TECHS
BUND TECHS: (M18) Congested Resistance Seen Between 158.74-158.95 
*RES 4: 159.16 76.4% Fibo of 159.69-157.43
*RES 3: 158.95 Apr 13, Apr 17 lows, now resistance
*RES 2: 158.83 61.8% Fibo of 159.69-157.43
*RES 1: 158.74/78 Apr 16 low, Apr 27 & intraday high
*PRICE: 158.51 @0720GMT
*SUP 1: 158.21 Initial rally high Apr 26, now support
*SUP 2: 158.00 Initial recovery high Apr 24, now support
*SUP 3: 157.72 Hourly base Apr 25
*SUP 4: 157.43 Apr 24 low
*COMMENTARY* Last Tuesday's 157.43 low was enough of a correction, at least for
the time being. Thursday's move back above 158.00-158.05 turned the near term
tide and has allowed some recovery of the losses seen since the Mar 28 high at
159.69. Friday's move above 158.50-158.56, sees the beginning of some congested
resistance between 158.74 and 158.95 as potentially halting this rise. Above and
159.16 becomes pivotal to direction. Nearest supports 158.21 and then 158.00.

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.