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Some Thoughts On Move Lower In Crude

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(M2) Corrective Bounce Extends

BUND TECHS
Fixed Income Technical Analysismarkets-real-timeBulletMarketsFixed Income
  • RES 4: 157.87 High Apr 7
  • RES 3: 157.15 50-day EMA
  • RES 2: 156.00 High Apr 28 and a key short-term resistance
  • RES 1: 154.18 High May 5
  • PRICE: 153.64 @ 04:59 BST May 12
  • SUP 1: 150.49 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)

Trend signals in Bund futures are unchanged and the outlook is bearish. This week’s gains are considered corrective. A fresh cycle low on Monday reinforced the bearish condition and confirmed, once again, an extension of the bearish price sequence of lower lows and lower highs. Moving average studies remain in a bear mode. Attention is on 150.15 next, a Fibonacci projection. Firm trend resistance is at 156.00, the Apr 28 high.

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  • RES 4: 157.87 High Apr 7
  • RES 3: 157.15 50-day EMA
  • RES 2: 156.00 High Apr 28 and a key short-term resistance
  • RES 1: 154.18 High May 5
  • PRICE: 153.64 @ 04:59 BST May 12
  • SUP 1: 150.49 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)

Trend signals in Bund futures are unchanged and the outlook is bearish. This week’s gains are considered corrective. A fresh cycle low on Monday reinforced the bearish condition and confirmed, once again, an extension of the bearish price sequence of lower lows and lower highs. Moving average studies remain in a bear mode. Attention is on 150.15 next, a Fibonacci projection. Firm trend resistance is at 156.00, the Apr 28 high.