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(M2) Downtrend Intact

BUND TECHS
  • RES 4: 164.43 High Mar 10
  • RES 3: 163.20 High Mar 11
  • RES 2: 162.35 20-day EMA
  • RES 1: 160.56/162.05 Low Mar 16 / High Mar 15
  • PRICE: 159.92 @ 05:03 GMT Mar 24
  • SUP 1: 159.06 Low Mar 23
  • SUP 2: 158.84 Low Oct 22 2018 (cont)
  • SUP 3: 157.92 150.0% retracement of the Feb 10 - Mar 7 rally
  • SUP 4: 157.33 Low Oct 10 2018 (cont)

Bunds remain in a downtrend. The contract has traded through last week’s low of 161.56. The break lower has also resulted in a move through the psychological 160.00 handle. The continuation lower confirms an extension of the broader bearish price sequence of lower lows and lower highs that has unfolded since Aug / Sep 2019. The focus is on 158.84, the Oct 22 2018 low (cont). Firm resistance is seen at 162.05.

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