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(U2) Fresh Cycle Low

BUND TECHS
  • RES 4: 158.87 High May 12
  • RES 3: 155.27 High May 26
  • RES 2: 153.39 20-day EMA
  • RES 1: 152.34 Low May 18
  • PRICE: 150.47 @ 05:17 BST Jun 3
  • SUP 1: 150.19 1.00 proj of the Apr 28 - May 9 - 12 price swing
  • SUP 2: 150.00 Psychological round number
  • SUP 3: 148.85 1.236 proj of the Apr 28 - May 9 - 12 price swing
  • SUP 4: 148.02 1.382 proj of the Apr 28 - May 9 - 12 price swing

Bund futures maintain this week’s softer tone and the contract has continued to weaken. Price has traded below support at 150.97, May 9 low and a bear trigger. This signals a resumption of the primary downtrend and a continuation lower would open 150.19, 1.00 projection of the Apr 28 - May 9 - 12 price swing. A move lower would also expose the psychological 150.00 handle. Initial firm resistance is at 153.39, the 20-day EMA.

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