(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: 132.85 50-day EMA
• PRICE: 131.95 @ 05:14 GMT Apr 9
• SUP 1: 131.54 Low Mar 18
• SUP 2: 131.23 Low Feb 29 and the bear trigger
• SUP 3: 130.60 1.50 proj of the Dec 27 - Feb 29 - Mar 8 price swing
• SUP 4: 130.00 Round number support

Bund futures traded lower Monday and a bearish threat remains present. A continuation would refocus attention on key support and the bear trigger at 131.23, the Feb 29 low. Clearance of this level would confirm a resumption of the downtrend that started last December and open 130.60, a Fibonacci projection. On the upside, a break of 133.48, the Mar 27 high, is required to reinstate a bullish theme. Initial resistance is at 132.85, the 50-day EMA.