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(U2) Bears Pause For Breath

  • RES 4: 150.97 Low May 9
  • RES 3: 148.00 20-day EMA
  • RES 2: 147.19 High Jun 13
  • RES 1: 145.58 High Jun 14
  • PRICE: 143.32 @ 05:09 BST Jun 21
  • SUP 1: 142.56/140.67 Low Jun 17 / Low Jun 16 and bear trigger
  • SUP 2: 140.00 Psychological round number
  • SUP 3: 138.68 Low Jan 2 2014 (cont)
  • SUP 4: 138.33 3.00 proj of the Apr 28 - May 9 - 12 price swing

Bund futures remain in consolidation mode. The trend outlook is bearish though. Recent cycle lows have continued to confirm a resumption of the downtrend and maintain a bearish price sequence of lower lows and lower highs. Moving average studies are in a bear mode too, highlighting current trend conditions. The focus is on the 140.00 psychological level. Firm resistance is at 148.00, the 20-day EMA.

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