Free Trial

Price Signal Summary - Trend Needle In Bunds Points South

OUTLOOK
  • 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.
113 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • 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.