Free Trial

(M2) Resistance Remains Intact

BUND TECHS
  • RES 4: 157.87 High Apr 7
  • RES 3: 156.30 50-day EMA
  • RES 2: 156.00 High Apr 28 and a key short-term resistance
  • RES 1: 155.33 High May 12
  • PRICE: 153.59 @ 05:07 BST May 23
  • SUP 1: 151.89/150.49 Low May 18 / 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 continue to trade below recent highs. The trend direction is unchanged though and remains down. Recent fresh cycle lows reinforce the bearish condition and maintain the price sequence of lower lows and lower highs - the definition of a downtrend. Moving average studies are in a bear mode condition. A continuation lower would refocus attention on 150.49, the bear trigger. Firm trend resistance is unchanged at 156.00.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.