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(U2) Bullish Outlook

BUND TECHS
  • RES 4: 159.79 High Apr 4 (cont)
  • RES 3: 157.87 High Apr 7 (cont)
  • RES 2: 157.21 1.50 projection of the Jun 16 - 24 - 28 price swing
  • RES 1: 156.28 High Jul 26
  • PRICE: 155.36 @ 05:10 BST Jul 28
  • SUP 1: 153.78/152.27 Low Jul 25 / 20-day EMA
  • SUP 2: 149.69 Low Jul 21 and key short-term support
  • SUP 3: 148.24 Low Jul 1
  • SUP 4: 144.72 Low Jun 28 and a key support

Bund futures maintain a bullish tone. Gains Tuesday confirmed a resumption of the uptrend. The break higher maintains the current bullish price sequence of higher highs and higher lows and price remains above the 20- and 50-day EMAs. The focus is on 157.21 next, a Fibonacci projection. Key trend support has been defined at 149.69, the Jul 21 low. A break of this level is required to signal a potential top.

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