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Price Signal Summary - Bund Futures Remains Closer To Their Recent Low

OUTLOOK
  • In the FI space, Bund futures are unchanged. The contract remains soft and is trading closer to its recent lows. A continuation lower would expose key support and the bear trigger at 131.23, the Feb 29 low. Clearance of this level would confirm a resumption of the downtrend that started late December last year. Initial firm resistance to watch is at 133.05, the 50-day EMA. A clear break of this average would be bullish.
  • Gilt futures remain in a bull-mode position, however, the recent move lower does suggest scope for a deeper retracement. A resumption of the latest sell-off would open 97.67, 76.4% of the Feb 29 - Mar 12 rally. Clearance of this level would expose the key support and the bear trigger at 96.83, Feb 29 low. On the upside, key resistance has been defined at 100.37, the Mar 13 high. A breach of this level would reinstate the recent bull cycle. 99.35 is first resistance, the Mar 14 high.
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