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(U1) Bull Rally Extends

  • RES 4: 175.88 1.236 proj of the May 19 - Jun 11 - Jun 22 price swing
  • RES 3: 175.26 High Feb 18 (cont)
  • RES 2: 175.08 1.00 proj of the May 19 - Jun 11 - Jun 22 price swing
  • RES 1: 174.77/97 High Jul 8 / High Mar 3 (cont)
  • PRICE: 174.03 @ 05:17 BST Jul 9
  • SUP 1: 173.16 High Jun 11 and recent breakout level
  • SUP 2: 172.49/43 Low Jul 6 / 50-day EMA
  • SUP 3: 171.67 Low Jun 22 and the near-term bear trigger
  • SUP 4: 171.37 Low Jun 3

Bund futures traded higher yesterday extending this week's climb. The contract recently cleared key resistance at 173.16, Jun 11 high. The break removed recent bearish concerns and confirmed a resumption of the uptrend that started May 9. A bullish price sequence of higher highs and higher lows has also been reestablished. Attention is on 174.97 next, Mar 3 high (cont). Initial support is at 173.16.

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