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(M4) Trading Closer To Its Recent Lows

BUND TECHS
  • RES 4: 134.78 50.0% retracement of the Dec 27 - Feb 29 bear cycle
  • RES 3: 134.48 High Feb 5
  • RES 2: 133.01/134.15 50-day EMA / High Mar 8 and the bull trigger
  • RES 1: 132.54 20-day EMA
  • PRICE: 132.02 @ 05:07 GMT Mar 21
  • SUP 1: 131.54 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 are consolidating and remain closer to their recent lows. A resumption of the recent sell-off would expose key support and the bear trigger at 131.23, the Feb 29 low. Clearance of this level would confirm a continuation of the downtrend that started late December last year. Initial firm resistance to watch is at 133.01, the 50-day EMA. A clear break of this average would be bullish.

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