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(M2) Pulling Away From Its Recent High

BUND TECHS
Fixed Income Technical Analysismarkets-real-timeBulletMarketsFixed Income
  • RES 4: 157.87 High Apr 7
  • RES 3: 156.65 50-day EMA
  • RES 2: 156.00 High Apr 28 and a key short-term resistance
  • RES 1: 155.33 High May 12
  • PRICE: 152.65 @ 05:02 BST May 18
  • 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)

Bund futures traded lower yesterday as price pulls away from its recent high. The trend direction remains down. Recent fresh cycle lows reinforced the bearish condition and confirmed an extension of the price sequence of lower lows and lower highs - the definition of a downtrend. Moving average studies remain in a bear mode. A continuation lower would refocus attention on 150.49, the bear trigger. Firm trend resistance is unchanged at 156.00.

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  • RES 4: 157.87 High Apr 7
  • RES 3: 156.65 50-day EMA
  • RES 2: 156.00 High Apr 28 and a key short-term resistance
  • RES 1: 155.33 High May 12
  • PRICE: 152.65 @ 05:02 BST May 18
  • 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)

Bund futures traded lower yesterday as price pulls away from its recent high. The trend direction remains down. Recent fresh cycle lows reinforced the bearish condition and confirmed an extension of the price sequence of lower lows and lower highs - the definition of a downtrend. Moving average studies remain in a bear mode. A continuation lower would refocus attention on 150.49, the bear trigger. Firm trend resistance is unchanged at 156.00.