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TECHS: Price Signal Summary - Bearish Engulfing Candle In Bunds

MARKET INSIGHT
  • Equity indices outlook is unchanged and the broader bull trend remains intact although for now, a deeper corrective pullback appears likely. The EUROSTOXX50 index remains below key resistance at 3742.53, Feb 15 high and the bull trigger. Key support to watch is at 3622.24, Feb 26 low. E-mini S&P futures have traded below support at 3785.00, Feb 26 low. Attention turns to 3772.15 next, 61.8% of the Feb 1 - 16 rally.
  • In the FX space, EURUSD remains vulnerable. The breach of support Tuesday at 1.2023, Feb 17 opens 1.1952, Feb 5 low. USDJPY uptrend remains intact and the pair is through 107.00. The focus turns to 107.53 next, Jul 20, 2020 high. On the USD Index, key resistance remains 91.60, Feb 5 high and is an important pivot level.
  • On the commodity front, Gold remains in a clear downtrend. Resistance is at $1775.9, Feb 26 high. The focus is on $1700.0 and a potential breach of this level. Oil contracts are firmer today but remain in a bearish corrective cycle. Brent (K1) support to watch is $61.39 Feb 19 low. WTI (J1) key support is at $58.60, Feb 19 low.
  • In the FI space, gains in Bunds (H1) are still considered corrective. Yesterday's sell-off signals the potential end of this correction. In pattern terms, yesterday is a bearish engulfing day. Key resistance has been defined at 174.97, yesterday's high. Gilts (M1) remains bearish. Scope is for a move towards the 127.00 handle. Resistance seen at 129.27, Tuesday's high. Treasuries are still trading within the body of price action from Feb 25. In candle terms the pattern on this day is a bearish standard line - a continuation pattern. Attention is on 131-31, Feb 25 low. Key short-term resistance is at 134-06+, the Feb 25 high.
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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