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(M2) Fresh Cycle Low

BUND TECHS
  • RES 4: 165.9 High Mar 9
  • RES 3: 164.43 High Mar 10
  • RES 2: 163.20 High Mar 11
  • RES 1: 160.56/162.05 Low Mar 16 / High Mar 15 and the 20-day EMA
  • PRICE: 159.12 @ 05:12 GMT Mar 25
  • SUP 1: 158.73 Low Mar 24
  • SUP 2: 157.92 150.0% retracement of the Feb 10 - Mar 7 rally
  • SUP 3: 157.33 Low Oct 10 2018 (cont)
  • SUP 4: 156.88 Low Mar 8 2018 (cont)

Bunds remain in a downtrend and touched a fresh cycle low yesterday. The contract this week traded 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 157.92 next, a Fibonacci retracement level. Firm resistance is at 162.05.

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