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(U1) Finds Support Below The 50-Day EMA

BUND TECHS
  • RES 4: 173.79 High Apr 8
  • RES 3: 173.32 76.4% retracement of the Mar 25 - May 19 sell-off
  • RES 2: 173.16 High Jun 11
  • RES 1: 172.80 High Jun 15
  • PRICE: 172.50 @ 05:12 BST Jun 18
  • SUP 1: 171.80/37 Low Jun 17 / Low Jun 3
  • SUP 2: 170.99 Low Mar 31 and key short-term support
  • SUP 3: 170.56 Low May 24
  • SUP 4: 170.27 Low May 21

Bund futures remain below recent highs but did find support yesterday. The recent pullback is still considered corrective and a firm short-term support has been defined at 171.80, yesterday's low. Note that price has found support just below the 50-day EMA, reinforcing the importance of 171.80. A break of the lower would strengthen a bearish case. On the upside, key resistance and bull trigger is at 173.16, Jun 11 high.

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