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(U2) Resistance Remains Exposed

BUND TECHS
  • RES 4: 155.01 1.236 projection of the Jun 16 - 24 - 28 price swing
  • RES 3: 154.65 High May 27
  • RES 2: 153.36 High May 31
  • RES 1: 152.92 High Jul 6 and the bull trigger
  • PRICE: 151.49 @ 05:04 BST Jul 12
  • SUP 1: 149.05/146.50 20-day EMA / Low Jun 30
  • SUP 2: 144.72 Low Jun 28 and a key support
  • SUP 3: 142.56 Low Jun 17
  • SUP 4: 140.67 Low Jun 16 and bear trigger

Bund futures remain below recent highs but did trade higher Monday. A short-term bullish tone remains intact, following recent gains that resulted in a breach of resistance at 149.00. This established a bullish price sequence of higher highs and higher lows on the daily chart. The contract has also cleared the 50-day EMA. A resumption of gains would open 153.36, May 31 high. On the downside, key short-term support is unchanged at 144.72, the Jun 28 low.

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