Free Trial

(M18) Correction Underway, Nears.........>

BUND TECHS
BUND TECHS: (M18) Correction Underway, Nears 161.45-161.34 Support
*RES 4: 163.32 May 29 close
*RES 3: 163.06 Intraday high
*RES 2: 162.78 Hourly highs May 29
*RES 1: 162.33/46 Hourly resistance
*PRICE: 162.01 @1510GMT
*SUP 1: 161.45/50 Equality fall from 163.69, intraday low
*SUP 2: 161.34 May 25 high, now support
*SUP 3: 161.20 76.4% Fibo of 160.29-164.15
*SUP 4: 160.81 1.618 swing of 161.91-163.69
*COMMENTARY* Escalated to a 164.15 high Tuesday, before falling foul of some
heavily overbought near term conditions. An equally swift pullback has followed,
162.00-161.91 support has been lost today, as has yesterday's 161.79 low. Loss
of the latter will suggest the recent exuberance has cooled and we are due a
deeper correction of recent gains, beginning with 161.45-161.34. Not much
resistance unil 162.33-162.46, then 162.78 ahead of the day's 163.06 high.

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.