Free Trial

(U1) Pullback Considered Corrective

BUND TECHS
  • RES 4: 174.07 High Mar 29
  • RES 3: 173.79 High Apr 8
  • RES 2: 173.32 76.4% retracement of the Mar 25 - May 19 sell-off
  • RES 1: 173.16 High Jun 11
  • PRICE: 172.31 @ 05:08 BST Jun 16
  • SUP 1: 171.93 20-day EMA
  • 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 maintain a firmer tone despite this week's corrective pullback. The breach last week of the 50-day EMA last week and 172.05, Jun 4 high. signals scope for stronger short-term gains. Attention is on 173.32 next, a Fibonacci retracement. On the downside, initial support lies at the 20-day EMA that intersects at 171.93. Key near-term support has been defined at 170.99, Mar 31 low where a break is required to signal a reversal.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.