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OUTLOOK: Price Signal Summary - Trend Condition In Bunds Remains Bearish

OUTLOOK
BundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • In the FI space, the trend cycle in Bund futures remains bearish and last Friday’s sell-off reinforces this theme. The contract has recently traded through 133.22, 76.4% of the Nov 6 - Dec 2 bull cycle. This has opened key support at 132.00, the Nov 6 low. Initial resistance is seen at 133.48, Friday’s high.
  • The trend condition in Gilt futures is unchanged, it remains bearish and short-term gains are considered corrective - for now. The recent breach of 91.87, the Dec 19 low, confirmed a resumption of the downtrend. Sights are on 91.58 next, a 4.382 projection of the Dec 3 - 4 - 5 minor price swing. Initial resistance is at 92.08, the Jan 2 high. Resistance at the 20-day EMA, is at 93.16, and the average is seen as an important hurdle for bulls.
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  • In the FI space, the trend cycle in Bund futures remains bearish and last Friday’s sell-off reinforces this theme. The contract has recently traded through 133.22, 76.4% of the Nov 6 - Dec 2 bull cycle. This has opened key support at 132.00, the Nov 6 low. Initial resistance is seen at 133.48, Friday’s high.
  • The trend condition in Gilt futures is unchanged, it remains bearish and short-term gains are considered corrective - for now. The recent breach of 91.87, the Dec 19 low, confirmed a resumption of the downtrend. Sights are on 91.58 next, a 4.382 projection of the Dec 3 - 4 - 5 minor price swing. Initial resistance is at 92.08, the Jan 2 high. Resistance at the 20-day EMA, is at 93.16, and the average is seen as an important hurdle for bulls.