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(M4) Fresh Cycle Low

BUND TECHS
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income Bullets
  • RES 4: 132.89 38.2% retracement of the Dec 27 - Apr 25 bear cycle
  • RES 3: 132.55 High Apr 15
  • RES 2: 131.32/132.11 50-day EMA / High May 16 and the bull trigger
  • RES 1: 130.54 20-day EMA
  • PRICE: 128.98 @ 05:29 BST May 30
  • SUP 1: 128.75 Low May 29
  • SUP 2: 128.42 Low Nov 1 ‘23 (cont)
  • SUP 3: 128.26 2.00 proj of the Mar 8 - 18 - 27 price swing
  • SUP 4: 127.56 Low Oct 26 2023 (cont)

A bear cycle in Bund futures, that started off the May 16 high of 132.11, remains in play. Wednesday’s move to a fresh cycle low reinforces this theme. The contract has breached the key support and bear trigger at 129.53, the Apr 25 low. The move down confirms a resumption of the downtrend that started late December last year and opens 128.88 next, a Fibonacci projection. Initial resistance is at 130.54, the 20-day EMA.

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  • RES 4: 132.89 38.2% retracement of the Dec 27 - Apr 25 bear cycle
  • RES 3: 132.55 High Apr 15
  • RES 2: 131.32/132.11 50-day EMA / High May 16 and the bull trigger
  • RES 1: 130.54 20-day EMA
  • PRICE: 128.98 @ 05:29 BST May 30
  • SUP 1: 128.75 Low May 29
  • SUP 2: 128.42 Low Nov 1 ‘23 (cont)
  • SUP 3: 128.26 2.00 proj of the Mar 8 - 18 - 27 price swing
  • SUP 4: 127.56 Low Oct 26 2023 (cont)

A bear cycle in Bund futures, that started off the May 16 high of 132.11, remains in play. Wednesday’s move to a fresh cycle low reinforces this theme. The contract has breached the key support and bear trigger at 129.53, the Apr 25 low. The move down confirms a resumption of the downtrend that started late December last year and opens 128.88 next, a Fibonacci projection. Initial resistance is at 130.54, the 20-day EMA.