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Price Signal Summary - Short-Term Bull Cycle In Bunds Remains In Play

OUTLOOK
  • In the FI space, Bund futures continue to trade closer to their recent highs and a S/T bull cycle remains in play. Price has pierced the 50-day EMA - at 132.95. A clear break of this EMA would be a bullish development and a continuation higher would open the key resistance at 134.15, the Mar 8 high. Key support has been defined at 131.23, the Feb 29 low. Initial support lies at 132.28, the Mar 22 low.
  • Despite Monday’s pullback, Gilt futures remain closer to their recent highs. A continuation of gains would expose key short-term resistance at 100.37, the Mar 13 low, where a break would strengthen any developing bullish theme. Key short-term support has been defined at 98.05, the Mar 15 low. A break would be bearish. For now, 98.05 and 100.37 remain the key short-term directional triggers.
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