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(M2) Fresh Cycle Low Once Again

BUND TECHS
  • RES 4: 157.87 High Apr 7
  • RES 3: 157.74 50-day EMA
  • RES 2: 156.00 High Apr 28 and a key short-term resistance
  • RES 1: 1152.74/154.54 High May 6 / 20-day EMA
  • PRICE: 151.14@ 05:11 BST May 9
  • SUP 1: 150.81 Low May 6
  • 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

Trend signals in Bund futures continue to point south and fresh cycle lows on Friday reinforce this condition. The move lower confirms, once again, a resumption of the primary downtrend and 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 resistance has been defined at 156.00, the Apr 28 high.

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