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(U2) Southbound

BUND TECHS
  • RES 4: 158.33/159.70 High Aug 3 / 2 and the bull trigger
  • RES 3: 157.74 High Aug 10
  • RES 2: 154.60/156.88 20-day EMA / High Aug 15
  • RES 1: 153.70 50-day EMA
  • PRICE: 151.31 @ 05:09 BST Aug 23
  • SUP 1: 151.03 Low Aug 22
  • SUP 2: 150.00 Round number support
  • SUP 3: 149.69 Low Jul 21 and key short-term support
  • SUP 4: 148.24 Low Jul 1

Bund futures traded lower again Monday, extending the pullback from the Aug 2 high of 159.70. The 50-day EMA has been cleared. This marked a key support area and the clear break has strengthened bearish conditions and signals scope for a continuation lower. This opens the 150.00 handle next. On the upside, initial firm resistance is at 156.88, Aug 15 high. Initial firm resistance is at 153.70, the 50-day EMA.

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