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(U2) Remains Weak

BUND TECHS
  • RES 4: 152.34 Low May 18
  • RES 3: 151.23 20-day EMA
  • RES 2: 149.92/150.97 High Jun 7 / Low May 9
  • RES 1: 148.51 High Jun 10
  • PRICE: 146.59 @ 05:07 BST Jun 13
  • SUP 1: 146.00 Round number support
  • SUP 2: 145.85 1.764 proj of the Apr 28 - May 9 - 12 price swing
  • SUP 3: 145.00 Round number support
  • SUP 4: 144.51 2.00 proj of the Apr 28 - May 9 - 12 price swing

A bearish theme and strong downward price pressure continued to deliver fresh lows last week in Bund futures. Trend conditions remain bearish. Price has recently cleared support at 150.97, May 9 low, and the 150.00 handle. This marked a resumption of the primary downtrend and maintains a bearish price sequence of lower lows and lower highs. The focus is on 146.00 next. Firm resistance is at 151.23, the 20-day EMA.

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