Free Trial

(U18) Decline Holds Into Key.............>

BUND TECHS
BUND TECHS: (U18) Decline Holds Into Key 159.42-159.23 Support
*RES 4: 161.66 Jun 5 high
*RES 3: 161.15/20 Congestion area Jun 1-Jun 4
*RES 2: 160.82 May 31 low, now resistance
*RES 1: 160.68 Jun 4 low, now resistance
*PRICE: 160.43 @0746GMT
*SUP 1: 160.00/10 Hourly support
*SUP 2: 159.62 Hourly base Jun 7
*SUP 3: 159.39/42 Jun 7 low, Apr 4 high
*SUP 4: 159.23/30 May 7, May 21 highs, now support
*COMMENTARY* The loss of 160.68 support on Wednesday saw the speed of the fall
increase. The 160.07-159.98 support then came under assault at the close. The
decline continued yesterday, reaching support from the first of a trio of former
highs between 159.42-159.23. If any of the recent upside momentum is to be
retained, then it is important that these hold the fall. Oversold near term,
back above 160.01 allows some correction of losses from 161.66.

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.