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(U0) Bullish Focus

BUND TECHS
  • RES 4: 177.77 High Apr 30 and May 5 and key resistance
  • RES 3: 177.52 High May 15
  • RES 2: 177.35 High May 18
  • RES 1: 177.29 High Jul 29
  • PRICE: 176.99 @ 04:57 BST Jul 30
  • SUP 1: 175.95 Low Jul 24 and key near-term support
  • SUP 2: 175.77/54 Low Jul 20 / Low Jul 9
  • SUP 3: 175.04 Low Jul 2
  • SUP 4: 174.80 Low Jun 17

Bund futures edged higher again yesterday but did find resistance at the
day high. This week's gains confirms a resumption of the uptrend that has
been in place since Jun 5 and confirms a recent bullish pattern, an
ascending triangle. The focus is on a climb toward resistance at 177.77,
high Apr 30 and May 5. Key support is at 175.95, Jul 24 low. A breach of
this level is required to dent bullish sentiment.

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