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Price Signal Summary - Bund Bears Remain In The Driver's Seat

OUTLOOK
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  • In the FI space, the trend outlook in Bund futures is unchanged and remains bearish. The latest recovery is considered corrective. The contract traded to fresh cycle lows last week, confirming once again a resumption of the downtrend. Sights are on 129.26, the 1.618 projection of the Mar 8 - 18 - 27 price swing. First resistance to watch is at 131.32, the 20-day EMA.
  • A bearish theme in Gilt futures remains intact. Last Wednesday’s breach of support at 96.01, the Apr 17 low, confirmed a resumption of the downtrend. Furthermore, moving average studies have recently crossed, highlighting a bear-mode set-up. Scope is seen for a move towards the 95.00 handle next. Initial firm resistance to watch is 97.16, the 20-day EMA.
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  • In the FI space, the trend outlook in Bund futures is unchanged and remains bearish. The latest recovery is considered corrective. The contract traded to fresh cycle lows last week, confirming once again a resumption of the downtrend. Sights are on 129.26, the 1.618 projection of the Mar 8 - 18 - 27 price swing. First resistance to watch is at 131.32, the 20-day EMA.
  • A bearish theme in Gilt futures remains intact. Last Wednesday’s breach of support at 96.01, the Apr 17 low, confirmed a resumption of the downtrend. Furthermore, moving average studies have recently crossed, highlighting a bear-mode set-up. Scope is seen for a move towards the 95.00 handle next. Initial firm resistance to watch is 97.16, the 20-day EMA.