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(M3) Bullish Theme

BUND TECHS
  • RES 4: 140.00 Psychological round number
  • RES 3: 139.40 High Jan 18
  • RES 2: 138.40 High Feb 2
  • RES 1: 138.00 Round number resistance
  • PRICE: 135.86 @ 05:12 GMT Mar 17
  • SUP 1: 135.65 50.0% retracement of Wednesday’s rally
  • SUP 2: 135.45 High Feb 14
  • SUP 3: 134.30 High Feb 24
  • SUP 4: 133.89/33 20-day EMA / Low Mar 15

Bund futures have pulled back from Wednesday’s high of 137.97. The near-term outlook remains bullish following this week’s volatile session. A continuation higher would pave the way for strength towards 138.00 next. Wednesday’s gains leave support 133.89 intact, the 20-day EMA. A reversal lower and a break of this support is required to signal scope for a deeper retracement.

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