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(U0) Bullish Focus

BUNDS
  • 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 Round number resistance
  • PRICE: 177.91 @ 04:46 BST Jul 31
  • 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

Bund futures are firm and bulls remain in control following this week's clear breach of 176.86, Jun 29 high. Recent gains confirmed a resumption of the uptrend that has been in place since Jun 5 and also confirmed a recent bullish pattern, an ascending triangle. Futures have today traded above 177.77, high Apr 30 and May 5 paving the way for a move beyond 178.00 towards 179.56, Mar 6 high. Support is at 176.83.

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