Free Trial

(U18) Decline Continues After Friday's...>

BUND TECHS
BUND TECHS: (U18) Decline Continues After Friday's Bearish 'Outside Day'
*RES 4: 163.39 Jul 20 high
*RES 3: 163.07/09 Hourly low/high Jul 20
*RES 2: 162.70 Jul 19 low, now resistance
*RES 1: 162.55/60 Hourly resistance
*PRICE: 162.23 @1442GMT
*SUP 1: 161.82/85 Intraday, Jun 29 lows, 38.2% 159.39-163.39
*SUP 2: 161.38 50% Fibo of 159.39-163.39
*SUP 3: 161.26 Jun 21 low
*SUP 4: 160.91/98 61.8% of 159.39-163.39, 1% volatility band
*COMMENTARY* The move through 163.20-163.30 resistance was not long lived, a
high of 163.39 last Friday, before giving back some ground, aided by a
potentially bearish 'outside day' close. The subsequent loss of 162.45-162.44
support yesterday, spoiled recent upside momentum and suggested scope for a
deeper correction of gains from the Jun 12 low at 157.37. This now sees 161.85
as next support, ahead of a deeper 161.38-161.26 drop. Resistance 162.55-162.60.

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.