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Price Signal Summary - Trend Direction In Bunds Remains Down

OUTLOOK
  • In the FI space, the trend condition in {GE} Bund futures is unchanged and the direction remains down. Recent gains have proved to be a correction. Furthermore, moving average studies remain in a bear-mode set-up, highlighting a downtrend. Yesterday’s fresh cycle low confirms a resumption of the downtrend with sights on 131.49 next, the 61.8% retracement of the Oct 4 - Dec 27 bull phase. Initial resistance is at 133.22, the 20-day EMA.
  • A bear threat in Gilt futures remains present and the contract traded lower Thursday, before recovering from the session low. Price breached support at 97.10, the Feb 27 low. This confirms a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. With 97.00 breached, attention turns to the 96.00 handle next. On the upside, key short-term resistance has been defined at 98.53, the Feb 26 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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