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(U2) Bear Cycle Intact

  • RES 4: 151.23 20-day EMA
  • RES 3: 150.97 Low May 9
  • RES 2: 149.92 High Jun 7
  • RES 1: 147.19/148.51 High Jun 13 / High Jun 10
  • PRICE: 144.79 @ 05:02 BST Jun 14
  • SUP 1: 144.19 Low Jun 13
  • SUP 2: 144.00 Round number support
  • SUP 3: 143.17 2.236 proj of the Apr 28 - May 9 - 12 price swing
  • SUP 4: 142.34 2.382 proj of the Apr 28 - May 9 - 12 price swing

Bund futures remain in a clear downtrend. A bearish theme and strong downward price pressure continue to deliver fresh lows. Price has recently cleared support at 150.97, May 9 low, and the 150.00 handle. This marked a resumption of the primary downtrend and maintains a bearish price sequence of lower lows and lower highs. The focus is on 143.17 next, a Fibonacci projection. Firm resistance is at 150.65, the 20-day EMA.

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