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(U0) Sell-Off Extends Through Key Fib Support

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: 175.39 @ 03:40 BST Aug 14
  • SUP 1: 176.19 50-dma
  • SUP 2: 175.46 Low Aug 13
  • SUP 4: 175.04 Low Jul 2

The sell-off resumed Thursday, with Bund futures edging through and closing below both the 50-dma as well as key Fib support at 175.53 (23.6% Mar - Aug rally) on the continuation contract. This represents a bearish development, opening a more protracted leg lower in the near future. Thursday marked five consecutive sessions of lower lows, opening levels not seen since early June. Markets need a close above 176.00 to re-accelerate any rally.

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