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(U3) Bearish Outlook

BUND TECHS
  • RES 4: 136.50 High May 11
  • RES 3: 135.85 High Jun 1 and key short-term resistance
  • RES 2: 134.77/95 / High Jun 12 / 6
  • RES 1: 133.89 20-day EMA
  • PRICE: 132.65 @ 05:03 BST Jun 16
  • SUP 1: 132.20 Low Jun 15
  • SUP 2: 132.12 Low May 26 and key support
  • SUP 3: 131.89 1.00 projection of the Jun 1 - 8 - 12 price swing
  • SUP 4: 131.21 1.236 projection of the Jun 1 - 8 - 12 price swing

Bund futures maintain a softer tone and the contract traded lower Thursday. Resistance at 134.77, the Jun 12 high, remains intact. A break of this level is required to expose key short-term resistance at 135.85, the Jun 1 high. Support at 132.97, the Jun 8 low, has been cleared and the break opens 132.12, the May 26 low and a bear trigger. Clearance of this level would strengthen bearish conditions.

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