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(M2) Consolidating But Trend Remains Down

BUND TECHS
  • RES 4: 165.29 High Mar 9
  • RES 3: 164.43 High Mar 10
  • RES 2: 163.43 20-day EMA
  • RES 1: 162.73 High Mar 14
  • PRICE: 160.87 @ 05:15 GMT Mar 18
  • SUP 1: 160.56 Low Mar 16
  • SUP 2: 160.00 Psychological round number
  • SUP 3: 159.81 123.6% retracement of the Feb 10 - Mar 7 rally
  • SUP 4: 159.19 Low Nov 8 2018 (cont)

Bund futures are consolidating but remain in a downtrend following recent weakness The contract has this week breached support at 161.50, Feb 10 low. This has strengthened the bearish theme and importantly, has confirmed a resumption of the underlying downtrend and the bearish price sequence of lower lows and lower highs. 161.00 has also been cleared, opening the psychological 160.00 handle. Initial resistance is at 162.73.

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