Free Trial

(U2) Needle Still Points South

BUND TECHS
  • RES 4: 154.47 High Aug 18
  • RES 3: 153.66 High Aug 19
  • RES 2: 153.05 50-day EMA
  • RES 1: 151.42 High Aug 25
  • PRICE: 148.84 @ 05:14 BST Aug 30
  • SUP 1: 147.94/92 61.8% of the Jun 16 - Aug 2 bull leg / Low Aug 29
  • SUP 2: 146.50 Low Jun 30
  • SUP 3: 144.72 Low Jun 28 and a key support
  • SUP 4: 143.05 Low Jun 121

Bund futures have started the week on a softer note and traded lower Monday. This reinforces current bearish conditions as price moves further away from the 50-day EMA. The average marked a key support area and the recent breach strengthened bearish conditions. The focus is on the 147.94 next, a Fibonacci retracement briefly pierced yesterday. On the upside, initial firm resistance is seen at 151.42, Aug 25 high.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.