Free Trial

(M3) Trend Outlook Remains Bullish

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: 137.29 High May 11
  • PRICE: 135.96 @ 04:55 BST May 15
  • SUP 1: 135.61/134.99 20-day EMA / Low May 10
  • 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 remain in a short-term uptrend. Last week’s print above 137.22, the May 4 high, reinforces a bullish condition and the latest pullback is considered corrective. A continuation higher would open 137.55, a Fibonacci retracement. Clearance of this level would expose 138.09, the Apr 6 high. On the downside, a break below last Wednesday’s 134.99 low would highlight a bearish threat and expose 134.35, the May 2 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.