Free Trial

(M3) Gains Considered Corrective

BUND TECHS
  • RES 4: 139.54 High Mar 24
  • RES 3: 136.44/138.09 High Apr 12 / 6 and key near-term resistance
  • RES 2: 135.06 20-day EMA
  • RES 1: 134.26 High Apr 18
  • PRICE: 134.16 @ 05:12 BST Apr 21
  • SUP 1: 133.10 Low Apr 19
  • SUP 2: 132.70 76.4% retracement of the Mar 2 - 20 rally
  • SUP 3: 132.37 Low Mar 10
  • SUP 4: 132.00 Round number support

Bund futures maintain a bearish tone and short-term gains are considered corrective. Recent weakness has resulted in a break of the 20-day EMA, at 135.06, and key short-term support at 134.70 has been cleared, the Mar 31 low. The continuation lower has opened 132.70, a Fibonacci retracement. A move above 138.09, the Apr 6 high, is required to reinstate the recent bullish theme. Initial firm resistance is seen at 135.06.

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.