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(U1) 50-Day EMA Remains Intact

BUND TECHS
  • RES 4: 172.80 High Apr 23
  • RES 3: 172.60 High May 7
  • RES 2: 172.08 50.0% retracement of the Mar 25 - May 19 sell-off
  • RES 1: 171.98/72.01 High May 26 / 50-day EMA
  • PRICE: 171.46 @ 05:09 BST Jun 4
  • SUP 1: 170.99 Low Mar 31
  • SUP 2: 170.56 Low May 24
  • SUP 3: 170.27 Low May 21
  • SUP 4: 169.75 Low May 19 and the bear trigger

Bund futures are trading in a range and below last week's highs. Recent gains stalled just ahead of a key resistance marked by the 50-day EMA. The average intersects at 172.01 today with the recent high at 171.98 on May 26. A reversal lower would signal scope for a move towards 170.56, May 24 low and open the key support and bear trigger at 169.75, May 19 low. A clear break of the 50-day EMA would be bullish.

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