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(U0) Back to Square One

BUND TECHS
  • RES 4: 179.56 High Mar 6 (cont)
  • RES 3: 179.22 1.000 proj of Jun 5 - Jun 29 rally from Jul 2 low
  • RES 2: 178.23 0.764 proj of Jun 5 - Jun 29 rally from Jul 2 low
  • RES 1: 178.00 / 01 Round number resistance / High Jul 31
  • PRICE: 177.15 @ 06:12 BST Aug 6
  • SUP 1: 176.83 Jul 29 low
  • SUP 2: 175.95 Low Jul 24 and key near-term support
  • SUP 3: 175.77/54 Low Jul 20 / Low Jul 9
  • SUP 4: 175.04 Low Jul 2

After finding fresh impetus to close up at the 178 handle and the Jul 31 high Tuesday, markets reverted back to square one on Wednesday. The move higher was wholly reversed and Bund futures now trade below the Monday opening price. For now, directional parameters are intact, with markets needing to close above 178.00/01 to re-accelerate any rally. The ultimate target holds at 179.56, Mar 6 high. Support is at 176.83.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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