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(M2) Consolidation Mode

BUND TECHS
  • RES 4: 157.87 High Apr 7
  • RES 3: 156.09 50-day EMA
  • RES 2: 156.00 High Apr 28 and a key short-term resistance
  • RES 1: 155.33 High May 12
  • PRICE: 153.52 @ 05:07 BST May 25
  • SUP 1: 151.89/150.49 Low May 18 / Low May 9
  • SUP 2: 150.15 0.764 proj of the Mar 7 - 29 - Apr 4 price swing
  • SUP 3: 150.00 Psychological round number
  • SUP 4: 149.49 Low Jul 13 2015 (cont)

Bund futures continue to consolidate and trade below recent highs. The trend direction is unchanged though and remains down. Recent fresh cycle lows maintain the price sequence of lower lows and lower highs - the definition of a downtrend. Moving average studies are in a bear mode condition. A resumption of weakness would refocus attention on 150.49, the bear trigger. Firm trend resistance is unchanged at 156.00.

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