Free Trial

(U4) Corrective Bounce Extends

BUND TECHS
  • RES 4: 132.83 High May 16 and a bull trigger
  • RES 3: 132.18 High May 17
  • RES 2: 131.77 50-day EMA
  • RES 1: 131.55 High Jun 4
  • PRICE: 131.05 @ 05:18 BST Jun 5
  • SUP 1: 130.50 Low Jun 4
  • SUP 2: 129.83 Low Jun 1
  • SUP 3: 129.37 Low May 31 and the bear trigger
  • SUP 4: 129.00 round number support

A bear cycle in Bund futures remains in play and last week’s fresh cycle lows reinforce this theme. The latest recovery from 129.37, the May 31 low, appears to be a correction -for now. The contract has breached the 20-day EMA and the next resistance to watch is 131.77, the 50-day EMA. For bears, a reversal lower would expose 129.37, and a break of this level would resume the downtrend and open the 129.00 handle.

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.