Free Trial

(M3) Bearish Threat Still Present

BUND TECHS
  • RES 4: 138.09 High Apr 6
  • RES 3: 137.55 61.8% retracement of the Mar 20 - Apr 19 bear leg
  • RES 2: 137.29 High May 11
  • RES 1: 135.07/136.38 20-day EMA / High May 16
  • PRICE: 134.16 @ 05:04 BST May 24
  • SUP 1: 133.50 Low May 19
  • SUP 2: 133.10 Low Apr 19 and the bear trigger
  • SUP 3: 132.71 76.4%retracement of the Mar 2 - 20 rally
  • SUP 4: 132.37 Low Mar 10

Bund futures are trading closer to recent lows and remain in bearish mode following last week’s move lower. Support at 134.99, the May 10 low, has been breached and this strengthens the bearish theme. The focus is on key support at 133.10, the Apr 19 low. On the upside, key short-term resistance has been defined at 137.29, the May 11 high. Initial resistance is 135.07, the 20-day EMA.

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.