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(M2) Downtrend Intact

  • RES 4: 163.20 High Mar 11
  • RES 3: 164.43 High Mar 10
  • RES 2: 162.73 High Mar 14
  • RES 1: 160.31/161.41High Mar 23 / 20-day EMA
  • PRICE: 157.99 @ 04:54 GMT Mar 29
  • SUP 1: 157.65 Low Mar 28
  • SUP 2: 157.33 Low Oct 10 2018 (cont)
  • SUP 3: 156.88 Low Mar 8 2018 (cont)
  • SUP 4: 156.55 Low Dec 8 2015 (cont)

Bunds remain in a downtrend and the contract is trading near its recent lows. Futures last week, traded through the psychological 160.00 handle. The continuation lower confirmed an extension of the broader bearish price sequence of lower lows and lower highs that has unfolded since Aug / Sep 2019. With bearish momentum conditions dominating, the focus is on 157.33 next, Oct 10 2018 low (cont). Firm resistance is at 160.31.

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