Free Trial

(M4) Short-Term Gains Considered Corrective

BUND TECHS
  • RES 4: 134.15 High Mar 8 and a bull trigger
  • RES 3: 133.48 High Mar 27
  • RES 2: 133.05 High Apr 12
  • RES 1: 132.16 20-day EMA
  • PRICE: 131.69 @ 05:28 BST Apr 18
  • SUP 1: 130.97 Low Apr 16
  • SUP 2: 130.87 1.00 proj of the Mar 8 - 18 - 27 price swing
  • SUP 3: 130.25 1.236 proj of the Mar 8 - 18 - 27 price swing
  • SUP 4: 130.00 Round number support

The trend outlook in Bund futures remains bearish and this week’s move lower reinforces current conditions. The contract has pierced key support at 131.23, the Feb 29 low. A clear break of this level would confirm a resumption of the downtrend that started late December last year. Attention is on 130.87 and 130.25, Fibonacci projections. On the upside, initial firm resistance is at 133.05, the Apr 12 high. Short-term gains are considered corrective - for now.

149 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: 134.15 High Mar 8 and a bull trigger
  • RES 3: 133.48 High Mar 27
  • RES 2: 133.05 High Apr 12
  • RES 1: 132.16 20-day EMA
  • PRICE: 131.69 @ 05:28 BST Apr 18
  • SUP 1: 130.97 Low Apr 16
  • SUP 2: 130.87 1.00 proj of the Mar 8 - 18 - 27 price swing
  • SUP 3: 130.25 1.236 proj of the Mar 8 - 18 - 27 price swing
  • SUP 4: 130.00 Round number support

The trend outlook in Bund futures remains bearish and this week’s move lower reinforces current conditions. The contract has pierced key support at 131.23, the Feb 29 low. A clear break of this level would confirm a resumption of the downtrend that started late December last year. Attention is on 130.87 and 130.25, Fibonacci projections. On the upside, initial firm resistance is at 133.05, the Apr 12 high. Short-term gains are considered corrective - for now.