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(U2) Trades Below 150.00

BUND TECHS
  • RES 4: 158.87 High May 12
  • RES 3: 155.27 High May 26
  • RES 2: 153.39 20-day EMA
  • RES 1: 152.34 Low May 18
  • PRICE: 149.88 @ 14:50 BST Jun 3
  • SUP 1: 149.49 Low Jul 13, 2015 (cont)
  • SUP 2: 148.85 1.236 proj of the Apr 28 - May 9 - 12 price swing
  • SUP 3: 148.23 Low Jun 10, 2015 (cont)
  • SUP 4: 148.02 1.382 proj of the Apr 28 - May 9 - 12 price swing

Bund futures have continued to trade lower today and maintain this week’s softer tone. Price has this week cleared support at 150.97, May 9 low and a bear trigger. The contract has also breached the 150.00 handle. This highlights a resumption of the primary downtrend and a continuation lower would open 148.85, a Fibonacci projection. Initial firm resistance is at 153.39, the 20-day EMA.

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