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(M3) Corrective Pullback Extends

BUND TECHS
  • RES 4: 140.30 High Mar 20 and key resistance
  • RES 3: 138.09 High Apr 6
  • RES 2: 137.55 61.8% retracement of the Mar 20 - Apr 19 bear leg
  • RES 1: 136.21/137.22 High May 8 / 4
  • PRICE: 135.26 @ 05:14 BST May 10
  • SUP 1: 135.12 Low May 9
  • SUP 2: 134.35 Low May 2
  • SUP 3: 133.64 Low Apr 28
  • SUP 4: 133.10 Low Apr 19 and the bear trigger

Bund futures continue to correct and retrace the upleg between Apr 19 - May 4. Trend conditions remain bullish. A resumption of gains would open 137.55, a Fibonacci retracement. Clearance of this level would expose 138.09, the Apr 6 high. On the downside, the next support to watch lies at 134.35, the May 2 low. A break of this level would expose key support at 133.10 instead, the Apr 19 low.

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