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Price Signal Summary - Trend Needle In Bunds Points South

OUTLOOK
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  • In the FI space, the trend outlook in Bund futures is unchanged and remains bearish. The contract has traded to fresh cycle lows this week, confirming a resumption of the downtrend. Sights are on 129.26, the 1.618 projection of the Mar 8 - 18 - 27 price swing. On the upside, firm resistance is at 133.05, the Apr 12 high. First resistance is at 131.48, the 20-day EMA.
  • A bearish theme in Gilt futures remains intact. Wednesday’s break of support at 96.01, the Apr 17 low, and yesterday’s extension confirms a resumption of the downtrend. Scope is seen for a move towards the 95.00 handle next. Initial firm resistance is 97.35, the 20-day EMA.
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  • In the FI space, the trend outlook in Bund futures is unchanged and remains bearish. The contract has traded to fresh cycle lows this week, confirming a resumption of the downtrend. Sights are on 129.26, the 1.618 projection of the Mar 8 - 18 - 27 price swing. On the upside, firm resistance is at 133.05, the Apr 12 high. First resistance is at 131.48, the 20-day EMA.
  • A bearish theme in Gilt futures remains intact. Wednesday’s break of support at 96.01, the Apr 17 low, and yesterday’s extension confirms a resumption of the downtrend. Scope is seen for a move towards the 95.00 handle next. Initial firm resistance is 97.35, the 20-day EMA.