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Bullish Outlook Remains Intact



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(U2) Support Untested

  • RES 4: 155.01 1.236 projection of the Jun 16 - 24 - 28 price swing
  • RES 3: 154.65 High May 27
  • RES 2: 154.00 Round number
  • RES 1: 153.80 High Jul 15
  • PRICE: 151.77 @ 20:20 BST Jul 20
  • SUP 1: 150.62/149.75 Low Jul 19 / Low Jul 11
  • SUP 2: 148.24 Low Jul 1
  • SUP 3: 146.50 Low Jun 30
  • SUP 4: 144.72 Low Jun 28 and a key support

Bund futures came under early pressure Tuesday, prompting prices to edge away from recent highs. Nonetheless, nearby support remains unchallenged and the contract remains in an uptrend, following the recent break of 152.92, Jul 6 high. This confirmed a resumption of the bull cycle. The break higher also maintains a bullish price sequence of higher highs and higher lows and attention is on the 154.00 handle next ahead of 154.65, the May 27 high. Key short-term support has been defined at 149.75, the July 11 low.

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