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(M3) Trades Through The 20-Day EMA

BUND TECHS
  • RES 4: 140.30 High Mar 20 and the bull trigger
  • RES 3: 140.00 Round number resistance
  • RES 2: 137.85/139.54 High Mar 27 / 24
  • RES 1: 136.77 High Mar 30
  • PRICE: 135.33 @ 05:07 BST Mar 31
  • SUP 1: 134.76 Low Mar 30
  • SUP 2: 134.15 61.8% retracement of the Mar 2 - 20 rally
  • SUP 3: 133.33 Low Mar 15
  • SUP 4: 132.70 76.4% retracement of the Mar 2 - 20 rally

Bund futures remain soft and the contract traded lower Thursday as the contract extended the pullback from 139.54, Mar 24 high. Price has breached a key support at the 20-day EMA which intersects at 135.53. It represents an important pivot level and the break strengthens a bearish threat. 134.80, the Mar 22 low, has been tested. A breach of this level would open 134.15, a Fibonacci retracement. Initial resistance is at 136.77, Thursday’s high.

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