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Price Signal Summary - Bunds Extends This Week's Rally

OUTLOOK
  • In the FI space, Bund futures maintain a firmer tone as the contract extends this week’s recovery. Price has cleared the 20- and 50-day EMAs and this strengthens the current bull cycle. The contract has pierced resistance at 136.38, the May 16 high. A continuation higher would open 137.29, the May 11 high. On the downside, initial firm support lies at 134.15, the May 30 low. A break is required to signal bearish reversal.
  • Gilt futures remain in a bear mode position and last week’s extension lower reinforces current conditions. Note too that moving average studies are in a bear-mode position highlighting a downtrend. The focus is on the 94.00 handle next. The bear trigger is $94.21, the May 26 low. The next resistance is 97.78, the May 23 high. Short-term gains would be considered corrective.
Fixed Income Technical AnalysisHomepagemarkets-real-timeCommoditiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisHomepagemarkets-real-timeCommoditiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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