Free Trial

(M3) Pierces Resistance At The 50-Day EMA

BUND TECHS
  • RES 4: 137.29 High May 11
  • RES 3: 136.38 High May 16
  • RES 2: 135.44 High May 18
  • RES 1: 135.03 Intraday high
  • PRICE: 134.85 @ 13:36 BST May 30
  • SUP 1: 132.83 Low May 26 and the bear trigger
  • SUP 2: 132.71 76.4%retracement of the Mar 2 - 20 rally
  • SUP 3: 132.37 Low Mar 10
  • SUP 4: 131.07 Low Mar 9

Bund futures maintain a firmer tone as the contract extends this week’s recovery. Despite these gains, the outlook is bearish. However, price has cleared the 20-day EMA and pierced resistance at the 50-day EMA - at 134.96. A clear breach of this average would signal scope for a stronger short-term recovery. On the downside, key support and the bear trigger has been defined at 132.83, the May 26 low.

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.