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Price Signal Summary - Bunds Remain Below Resistance At Last Week's High

OUTLOOK
  • In the FI space, Bund futures remain in an uptrend and the latest pullback appears to be a correction. However, price is once again below the 20- and 50-day EMAs, undermining the recent bullish theme. Initial firm support lies at 134.15, the May 30 low. A break would pave the way for weakness towards 132.83, the May 26 low and bear trigger. Clearance of 136.59, the Jun 1 high, is required to reinstate a bullish theme.
  • Gilt futures last week recovered from 94.21, the May 26 low. Recent gains are considered corrective and the primary short-term trend condition remains bearish. Moving average studies are in a bear-mode position highlighting a bear cycle. A resumption of weakness would open the 94.00 handle next. The bear trigger is 94.21, the May 26 low. Initial resistance to watch is at 97.78, the May 23 high.
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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