(M4) Bear Threat Remains Present

• RES 4: 134.48 High Feb 5
• RES 3: 134.15 High Mar 8 and the bull trigger
• RES 2: 133.48/69 High Mar 27 / 12
• RES 1: 133.10 High Apr 4
• PRICE: 132.04 @ 05:28 GMT Apr 8
• SUP 1: 131.87/131.54 Low Apr 2 / Low Mar 18
• SUP 2: 131.23 Low Feb 29 and the bear trigger
• SUP 3: 131.00 Round number support
• SUP 4: 129.88 Bear channel base drawn from the Dec 27 high

Bund futures remain above recent lows. The contract traded lower Friday and a bearish threat remains present. A continuation lower would refocus attention on key support and the bear trigger at 131.23, the Feb 29 low. Clearance of this level would confirm a continuation of the downtrend that started last December. On the upside, a break of 133.48, the Mar 27 high, is required to reinstate a bullish theme.