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(U0) Bearish Theme Returns

BUND TECHS
  • RES 4: 177.81 High Aug 6
  • RES 3: 177.67 High Aug 7
  • RES 2: 177.37 High Aug 21 and key near-term resistance
  • RES 1: 176.96 High Aug 25
  • PRICE: 175.93 @ 04:58 BST Aug 26
  • SUP 1: 175.75 Low Aug 25
  • SUP 2: 175.54 Low Aug 17
  • SUP 3: 175.25 Low Aug 14 and the bear trigger
  • SUP 4: 175.04 Low Jul 2

Bund futures started the week on a softer note and traded sharply lower yesterday. Friday's high of 177.37, just above the 76.4% retracement of the Aug 4 - 14 sell-off at 177.36 now stands as a key near-term resistance. The sharp sell-off signals scope for a deeper pullback as a bearish theme reinstates itself and has exposed support at 175.25, Aug 14 low. On the upside, a break of 177.37 would resume recent strength.

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