Free Trial

(M18) Failure At 159.50 Is A Concern.....>

BUND TECHS
BUND TECHS: (M18) Failure At 159.50 Is A Concern
*RES 4: 160.00 50% Fibo of 163.78-156.22
*RES 3: 159.69 Mar 28 high
*RES 2: 159.50 May 21 high
*RES 1: 159.30/35 Hourly resistance
*PRICE: 158.93 @1510GMT
*SUP 1: 158.74/80 Intraday low, hourly support
*SUP 2: 158.61 May 21 low
*SUP 3: 158.39 May 17 high, now support
*SUP 4: 158.11 Initial rally high May 18, now support
*COMMENTARY* A brief new high of 159.50 yesterday, before once again giving back
some ground. This sees initial support from around 158.80, beneath which would
caution and leave Monday's 158.61 low vulnerable to another test. Key near term
support however, looks to come from the May 17 high at 158.39. Back below here
would see upside momentum lost. In the meantime, 159.30-159.35 provides
resistance to another crack at that 159.50 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.