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  • 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: 173.03 High Jun 21
  • PRICE: 172.09 @ 05:17 BST Jun 22
  • SUP 1: 171.93 Low Jun 21
  • SUP 2: 171.80/37 Low Jun 17 / Low Jun 3
  • SUP 3: 170.99 Low Mar 31 and key short-term support
  • SUP 4: 170.56 Low May 24

Bund futures traded lower yesterday. The recent pullback is still considered corrective and while 171.80, Jun 17 low remains intact, scope is seen for a push higher. Note that the contract last week found support just below the 50-day EMA, reinforcing the importance of 171.80 as a short-term pivot level. A break lower would strengthen a bearish case. On the upside, key resistance and bull trigger is at 173.16, Jun 11 high.