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(U0) Starts The Week On A Softer Note

BUND TECHS
  • RES 4: 178.01 High Jul 31, Aug 4 and key resistance
  • RES 3: 177.81 High Aug 6
  • RES 2: 177.67 High Aug 7
  • RES 1: 177.37 High Aug 21and key near-term resistance
  • PRICE: 176.81 @ 04:44 BST Aug 25
  • SUP 1: 176.39 Low Aug 19
  • SUP 2: 176.03 Low Aug 18
  • SUP 3: 175.25 Low Aug 14 and the bear trigger
  • SUP 4: 175.04 Low Jul 2

Bund futures have started the week on a softer note. 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. A deeper pullback will likely expose support at 176.39, Aug 19 low. A stronger sell-off will suggest recent gains have been a correction that is now over. The focus would shift to 175.25, Aug 14 low. On the upside, a break of 177.37 would resume recent strength.

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