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OUTLOOK: Price Signal Summary - Bear Cycle In Bunds Remains In Play

OUTLOOK
BundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • In the FI space, Bund futures remain in a bear-mode condition following this week’ steep sell-off. The contract has again traded lower, today, marking an extension of the bearish impulsive wave. The move down signals scope for an extension towards 126.56 next, the 2.500 projection of the Feb 5 - 19 - 28 price swing. Further out, 126.00 is now within range. The contract is oversold, a recovery or a pause, would allow this condition to unwind. Initial firm resistance is seen at 129.41, the Jan 14 low.
  • Gilt futures remain in a clear mode-mode condition. The contract has this week traded through a key support at 91.79, the Feb 20 low. This level also represented a bear trigger and the breach signals scope for a continuation lower, with sights on 90.49 next, a 1.618 projection of the Feb 6 - 20 - Mar 4 price swing . The downtrend is oversold, a recovery would allow this set-up to unwind. Initial firm resistance is seen at 91.79, the Feb 20 low.
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  • In the FI space, Bund futures remain in a bear-mode condition following this week’ steep sell-off. The contract has again traded lower, today, marking an extension of the bearish impulsive wave. The move down signals scope for an extension towards 126.56 next, the 2.500 projection of the Feb 5 - 19 - 28 price swing. Further out, 126.00 is now within range. The contract is oversold, a recovery or a pause, would allow this condition to unwind. Initial firm resistance is seen at 129.41, the Jan 14 low.
  • Gilt futures remain in a clear mode-mode condition. The contract has this week traded through a key support at 91.79, the Feb 20 low. This level also represented a bear trigger and the breach signals scope for a continuation lower, with sights on 90.49 next, a 1.618 projection of the Feb 6 - 20 - Mar 4 price swing . The downtrend is oversold, a recovery would allow this set-up to unwind. Initial firm resistance is seen at 91.79, the Feb 20 low.