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Price Signal Summary - Bear Threat In Bund Futures Remains Present

OUTLOOK
  • In the FI space, Bund futures remain in a bear mode condition and gains are considered corrective. Moving average studies have recently crossed and are in a bear-mode set-up, highlighting a downtrend, The focus is on 131.49 next, the 61.8% retracement of the Oct 4 - Dec 27 bull phase. Initial resistance is 133.62, the 20-day EMA.
  • A bear threat in Gilt futures remains present despite the latest recovery. Key support at 97.57, the Jan 25 low, has recently been cleared. The break confirmed a resumption of the downtrend and opens 96.67, the Dec 5 low. On the upside, initial firm resistance is seen at 98.48, the 50-day EMA. Key resistance and the reversal trigger is at 100.62, the Feb 1 high.
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