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(U2) Fresh Cycle Lows

BUND TECHS
  • RES 4: 155.27 High May 26
  • RES 3: 153.36 High May 31
  • RES 2: 151.67/152.34 20-day EMA / Low May 18
  • RES 1: 149.92/150.97 High Jun 7 / Low May 9
  • PRICE: 147.74 @ 04:53 BST Jun 10
  • SUP 1: 147.32 Low Jun 9
  • SUP 2: 146.68 1.618 proj of the Apr 28 - May 9 - 12 price swing
  • SUP 3: 145.85 1.764 proj of the Apr 28 - May 9 - 12 price swing
  • SUP 4: 145.00 Round number support

A bearish theme and strong downward price pressure continued to deliver fresh lows again yesterday in Bund futures. Price has recently cleared support at 150.97, May 9 low. The contract is also below the 150.00 handle. This marks a resumption of the primary downtrend and maintains the bearish price sequence of lower lows and lower highs. The focus is on 146.68 next, a Fibonacci projection. Firm resistance is at 151.67, the 20-day EMA.

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