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(M4) Bearish Threat

BUND TECHS
  • 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: 132.95 High Apr 2
  • PRICE: 132.34 @ 05:35 GMT Apr 3
  • 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 traded lower yesterday. A deeper retracement would highlight a developing bearish threat once again and the end of the recent corrective phase between Mar 18 - 27. The bear trigger lies at 131.23, the Feb 29 low. Clearance of this level would confirm a resumption 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.

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