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(M2) Pullback From Monday’s High Extends

BUND TECHS
  • RES 4: 170.66 0.764 proj of the Feb 25 - Mar 1 - Mar 3 price swing
  • RES 3: 170.00 Round number resistance
  • RES 2: 169.44 0.764 proj of the Feb 25 - Mar 1 - Mar 3 price swing
  • RES 1: 168.67 High Mar 7
  • PRICE: 165.98 @ 09:24 GMT Mar 8
  • SUP 1: 165.14 Intraday low
  • SUP 2: 164.39 Low Mar 1
  • SUP 3: 163.00 Low Feb 25
  • SUP 4: 162.29 Low Feb 22

Bund futures remain in a short-term uptrend however the pullback from yesterday’s high of 168.67 has extended this morning. The contract has probed support at 165.51, Mar 3 low to suggest potential for a deeper pullback. Further weakness would open 164.39, Mar 1 low and the key short-term support parameter. A rebound would ease the bearish pressure and signal a possible resumption of gains.

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