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(M2) Resistance Still Intact

BUND TECHS
  • RES 4: 157.87 High Apr 7
  • RES 3: 156.50 50-day EMA
  • RES 2: 156.00 High Apr 28 and a key short-term resistance
  • RES 1: 155.33 High May 12
  • PRICE: 153.77 @ 05:04 BST May 20
  • 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 are trading below recent highs. The trend direction is unchanged 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 still 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.

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  • RES 4: 157.87 High Apr 7
  • RES 3: 156.50 50-day EMA
  • RES 2: 156.00 High Apr 28 and a key short-term resistance
  • RES 1: 155.33 High May 12
  • PRICE: 153.77 @ 05:04 BST May 20
  • 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 are trading below recent highs. The trend direction is unchanged 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 still 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.