(U2) Corrective Cycle Resumes

• RES 4: 152.28 76.4% retracement of the May 12 - Jun 16 bear leg
• RES 3: 150.59 50-day EMA
• RES 2: 150.06 61.8% retracement of the May 12 - Jun 16 bear leg
• RES 1: 149.46 Intraday high
• PRICE: 149.35 @ 05:12 BST Jul 1
• SUP 1: 146.50/144.72 Low Jun 30/ 28 and a key support
• SUP 2: 142.56/140.67 Low Jun 17 / Low Jun 16 and bear trigger
• SUP 3: 140.00 Psychological round number
• SUP 4: 138.68 Low Jan 2 2014 (cont)

Bund futures have resumed their short-term uptrend and corrective cycle. The contract has traded above resistance at 149.00 to signal potential for a climb towards 150.06, a Fibonacci retracement. A breach of this level would open the 50-day EMA, at 150.59. This average represents an important resistance. On the downside, key short-term support has been defined at 144.72, a break would highlight a bearish reversal reversal.