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(M2) Primary Trend Direction Remains Down

BUND TECHS
Fixed Income Technical Analysismarkets-real-timeBulletMarketsFixed Income
  • RES 4: 157.87 High Apr 7
  • RES 3: 156.93 50-day EMA
  • RES 2: 156.00 High Apr 28 and a key short-term resistance
  • RES 1: 155.33 High May 12
  • PRICE: 153.49 @ 05:02 BST May 17
  • SUP 1: 151.87/150.49 Low May 11 / 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)

The primary trend direction in Bund futures remains down and last week’s gains are considered corrective. A recent fresh cycle low on May 9 reinforced the bearish condition and confirmed, once again, an extension of the price sequence of lower lows and lower highs - the definition of a downtrend. MA studies remain in a bear mode. A resumption of weakness would refocus attention on 150.49, the bear trigger. Firm trend resistance is at 156.00.

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  • RES 4: 157.87 High Apr 7
  • RES 3: 156.93 50-day EMA
  • RES 2: 156.00 High Apr 28 and a key short-term resistance
  • RES 1: 155.33 High May 12
  • PRICE: 153.49 @ 05:02 BST May 17
  • SUP 1: 151.87/150.49 Low May 11 / 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)

The primary trend direction in Bund futures remains down and last week’s gains are considered corrective. A recent fresh cycle low on May 9 reinforced the bearish condition and confirmed, once again, an extension of the price sequence of lower lows and lower highs - the definition of a downtrend. MA studies remain in a bear mode. A resumption of weakness would refocus attention on 150.49, the bear trigger. Firm trend resistance is at 156.00.