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(U1) Heading North

BUND TECHS
  • RES 4: 178.32 High Jan 27 (cont)
  • RES 3: 177.69 1.764 proj of the May 19 - Jun 11 - Jun 22 price swing
  • RES 2: 177.19 1.618 proj of the May 19 - Jun 11 - Jun 22 price swing
  • RES 1: 176.79 1.50 proj of the May 19 - Jun 11 - Jun 22 price swing
  • PRICE: 176.68 @ 05:21 BST Jul 30
  • SUP 1: 175.82/24 Low Jul 27 / Low Jul 22
  • SUP 2: 174.77/45 High Jul 8 / Low Jul 15
  • SUP 3: 173.79 50-day EMA
  • SUP 4: 173.70 Low Jul 13 and 14

Bund futures are trading at this week's highs and maintain a firmer tone. The current bullish sequence of higher highs and higher lows remains intact and this signals scope for a climb towards 176.79 next, a Fibonacci extension. Moving average conditions remain in bull mode, reinforcing the current positive trend structure. On the downside, initial firm support is seen at 175.24, Jul 22 low.

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