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(U2) Northbound

BUND TECHS
  • RES 4: 161.38 2.00 projection of the Jun 16 - 24 - 28 price swing
  • RES 3: 160.00 Round number resistance
  • RES 2: 159.79 High Apr 4 (cont)
  • RES 1: 158.19 1.618 projection of the Jun 16 - 24 - 28 price swing
  • PRICE: 157.72 @ 04:49 BST Jul 29
  • SUP 1: 154.75/152.81 Low Jul 28 / 20-day EMA
  • SUP 2: 151.93 50-day EMA
  • SUP 3: 149.69 Low Jul 21 and key short-term support
  • SUP 4: 148.24 Low Jul 1

Bund futures maintain a bullish tone and the contract traded higher once again on Thursday. This confirms a resumption of the uptrend and the break higher maintains the current bullish price sequence of higher highs and higher lows. The focus is on 159.79 next, the Apr 4 high (cont). Key trend support has been defined at 149.69, the Jul 21 low. A break of this level is required to signal a potential top. Initial support is at 154.75.

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