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(U2) Downtrend Intact

BUND TECHS
  • RES 4: 158.87 High May 12
  • RES 3: 155.27 High May 26
  • RES 2: 152.41 20-day EMA
  • RES 1: 150.97/152.34 Low May 9 / Low May 18
  • PRICE: 149.41 @ 05:07 BST Jun 8
  • SUP 1: 148.83 Low Jun 7
  • SUP 2: 148.23 Low Jun 10, 2015 (cont)
  • SUP 3: 148.02 1.382 proj of the Apr 28 - May 9 - 12 price swing
  • SUP 4: 147.35 1.50 proj of the Apr 28 - May 9 - 12 price swing

Bund futures trend conditions are unchanged and the direction remains down. Price has recently cleared support at 150.97, May 9 low and a bear trigger. The contract has also breached the 150.00 handle. This highlights a resumption of the primary downtrend and maintains the bearish price sequence of lower lows and lower highs. The focus is on 148.23 next, the Jun 10 2015 low (cont). Initial firm resistance is at 152.41, the 20-day EMA.

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