Free Trial

(M3) Watching Resistance At The 20-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: 134.62 20-day EMA
  • PRICE: 134.30 @ 05:08 BST May 30
  • SUP 1: 132.83 Low May 26
  • 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 started the week on a firmer note, trading higher Monday. Despite these gains, the outlook remains bearish. Price last week pierced key support at 133.10, the Apr 19 low. A clear break of this level would strengthen bearish conditions and open 132.71, a Fibonacci retracement ahead of 132.37, the Mar 10 low. Initial firm resistance is at 134.62, the 20-day EMA. A clear break of this average is required to ease bearish pressure.

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.