Free Trial

(U18) Finds Some Support Just Below......>

BUND TECHS
BUND TECHS: (U18) Finds Some Support Just Below 50% Fibo Retrace Level
*RES 4: 162.44 50% Fibo of 164.19-160.68
*RES 3: 162.15 May 31 high
*RES 2: 161.75/85 Jun 1 high, hourly high May 31
*RES 1: 161.66 Hourly recovery high Jun 1
*PRICE: 161.41 @1515GMT
*SUP 1: 160.90 Intraday hourly base
*SUP 2: 160.68 Jun 4 low
*SUP 3: 160.40 Hourly support
*SUP 4: 160.19 May 28 low
*COMMENTARY* Has found some support from 160.68 so far, just below the 50% Fibo
retrace level at 160.78, as hourly conditions become oversold again. This allows
some scope for recovery, how much however, will be beholden to the reaction to
161.30-161.40 initially and then 161.66 thereafter. Will need back above the
latter before a more definitive correction of losses sustained since last week's
164.19 spike high. Loss of 160.68 has 160.40 protecting 160.19-160.00.

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.