Free Trial

(M4) Resistance At The 50-Day EMA Remains Intact

BUND TECHS
  • RES 4: 133.05 High Apr 12
  • RES 3: 132.55 High Apr 15
  • RES 2: 132.24 High Apr 19
  • RES 1: 131.85 50-day EMA
  • PRICE: 131.30 @ 08:03 BST May 10
  • SUP 1: 130.50/129.53 Low May 3 / Low Apr 25 and the bear trigger
  • SUP 2: 129.26 1.618 proj of the Mar 8 - 18 - 27 price swing
  • SUP 3: 129.00 Round number support
  • SUP 4: 128.88 1.764 proj of the Mar 8 - 18 - 27 price swing

The trend outlook in Bund futures is unchanged and it remains bearish. The latest short-term gains appear to be a correction. Key support at 131.23, the Feb 29 low, has recently been cleared. This confirmed a continuation of the downtrend. A resumption of weakness would open 129.26, a Fibonacci projection. Firm resistance is at 131.85, the 50-day EMA. A clear break of the average would be bullish.

142 words

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.
  • RES 4: 133.05 High Apr 12
  • RES 3: 132.55 High Apr 15
  • RES 2: 132.24 High Apr 19
  • RES 1: 131.85 50-day EMA
  • PRICE: 131.30 @ 08:03 BST May 10
  • SUP 1: 130.50/129.53 Low May 3 / Low Apr 25 and the bear trigger
  • SUP 2: 129.26 1.618 proj of the Mar 8 - 18 - 27 price swing
  • SUP 3: 129.00 Round number support
  • SUP 4: 128.88 1.764 proj of the Mar 8 - 18 - 27 price swing

The trend outlook in Bund futures is unchanged and it remains bearish. The latest short-term gains appear to be a correction. Key support at 131.23, the Feb 29 low, has recently been cleared. This confirmed a continuation of the downtrend. A resumption of weakness would open 129.26, a Fibonacci projection. Firm resistance is at 131.85, the 50-day EMA. A clear break of the average would be bullish.