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(M3) Retracement Mode

BUND TECHS
  • RES 4: 136.27 76.4% of Tuesday’s sell-off
  • RES 3: 135.80 61.8% of Tuesday’s sell-off
  • RES 2: 135.05 50.0% of Tuesday’s sell-off
  • RES 1: 134.21 Intraday high
  • PRICE: 133.98 @ 05:07 GMT Mar 15
  • SUP 1: 133.19 20-day EMA
  • SUP 2: 132.98 61.8% retracement of the Mar 2 - 13 rally
  • SUP 3: 132.37 Low Mar 10
  • SUP 4: 131.98 76.4% retracement of the Mar 2 - 13 rally

Bund futures traded lower Tuesday, retracing Monday’s bull run. The next support is 133.19, the 20-day EMA. For now, the pullback is considered corrective, however, a clear break of the 20-day EMA would signal scope for a deeper retracement. On the upside, key resistance has been defined at 137.24, the Mar 13 high. This is the bull trigger and a break of it would confirm a resumption of the recent bullish activity.

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