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(U1) Testing The 50-Day EMA

BUND TECHS
  • RES 4: 172.80 High Apr 23
  • RES 3: 172.60 High May 7
  • RES 2: 172.08 50.0% retracement of the Mar 25 - May 19 sell-off
  • RES 1: 172.05 High Jun 4 and the bull trigger
  • PRICE: 171.74 @ 05:10 BST Jun 8
  • SUP 1: 170.99 Low Mar 31 and key short-term support
  • SUP 2: 170.56 Low May 24
  • SUP 3: 170.27 Low May 21
  • SUP 4: 169.75 Low May 19 and the bear trigger

Bund futures have recently probed resistance at 171.98, May 26 high and the 50-Day EMA at 172.00. The contract however is still trading in a range. Also, recent gains have failed so far, to confirm a clear breach of the 50-day EMA. A reversal lower would signal scope for a move towards 170.56, May 24 low and open the key support and bear trigger at 169.75, May 19 low. A clear break of the 50-day EMA would however be bullish.

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