Free Trial

(U3) Bear Threat Still Present

  • RES 4: 135.61 High Jun 2
  • RES 3: 135.00 High Jun 27 and key resistance
  • RES 2: 134.88 High Jul 19
  • RES 1: 133.34/134.01 50-day EMA / High Jul 24
  • PRICE: 132.88 @ 05:19 BST Aug 1
  • SUP 1: 131.81 Low Jul 28
  • SUP 2: 131.61 76.4% retracement of the Jul 10 - 19 rally
  • SUP 3: 130.99 Low Jul 12
  • SUP 4: 130.60 Low Jul 10 and a key support

Bund futures remain vulnerable despite the recovery from last week’s low. Price has breached 132.23, 61.8% of the Jul 10 - 19 rally. This undermines the recent bullish theme and signals scope for an extension lower. The focus is on 131.61, the 76.4% retracement. Further out, key support is at 130.60, the Jul 10 low. Initial firm resistance is at 134.01, the Jul 24 high. A break would be bullish.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.