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(M2) Trend Conditions Remain Bearish

BUND TECHS
  • RES 4: 158.44 50-day EMA
  • RES 3: 157.87 High Apr 7
  • RES 2: 156.00 High Apr 28 and a key short-term resistance
  • RES 1: 155.38 20-day EMA
  • PRICE: 152.86 @ 04:59 BST May 4
  • SUP 1: 152.66/65 Low May 3 / Low Sep 1 2015 (cont)
  • SUP 2: 151.99 0.618 proj of the Mar 7 - 29 - Apr 4 price swing
  • SUP 3: 150.15 0.764 proj of the Mar 7 - 29 - Apr 4 price swing
  • SUP 4: 150.00 Psychological round number

Trend signals in Bund futures continue to point south. The contract traded to a fresh cycle low yesterday of 152.66. The move lower confirms an extension of the bearish price sequence of lower lows and lower highs. Furthermore, moving average studies remain in bear mode. Attention is on 152.65 next, the Sep 1 2015 low (cont). Firm resistance has been defined at 156.00, the Apr 28 high.

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