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Resend - (Z0) Breaches Trendline Resistance

BUND TECHS
  • RES 4: 174.93 High Aug 6
  • RES 3: 174.75 High Aug 7
  • RES 2: 174.51 High AUg 21
  • RES 1: 174.34 High Sep 3
  • PRICE: 174.07 @ 05:01 BST Sep 4
  • SUP 1: 173.65 Low Sep 3
  • SUP 2: 173.17 Low Sep 2
  • SUP 3: 172.35 Low Sep
  • SUP 4: 172.24 Low Aug 28 and major support

Bund futures traded higher again yesterday and managed to clear a key resistance at 174.12. This marked the top of a bear channel drawn off the Aug 4 high. The break has strengthened a bullish argument and exposes 174.51, Aug 21 high. Clearance of this resistance would signal potential for a climb towards 175.08 key resistance, the Aug 4 high. On the downside, initial support lies at 173.65, yesterday's low.

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