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(U1) Deeper Corrective Pullback

BUND TECHS
  • RES 4: 177.69 1.764 proj of the May 19 - Jun 11 - Jun 22 price swing
  • RES 3: 177.61 High Aug 05 and the bull trigger
  • RES 2: 177.24 High Aug 17 and 19
  • RES 1: 176.87 High Aug 25
  • PRICE: 175.97 @ 05:20 BST Aug 26
  • SUP 1: 175.62 Low Jul 26
  • SUP 2: 175.24 Low Jul 22
  • SUP 3: 175.27 50-day EMA
  • SUP 4: 174.83 Trendline support drawn from the May 19 low

Bund futures traded sharply lower yesterday The contract has moved below its 20-day EMA and support at 176.21, Aug 11 low. The break lower suggests scope for a deeper short-term corrective pullback with attention on the 50-day EMA that intersects at 175.37. On the upside, price would need to move above yesterday's high of 176.87 to ease the current bearish pressure. This would open 177.24, the Aug 17 and 19 high.

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