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(U3) Clears Support

BUND TECHS
  • 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: 133.10/134.01 20-day EMA / High Jul 24
  • PRICE: 132.32 @ 05:22 BST Jul 28
  • SUP 1: 132.07 Intraday low
  • 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 traded in a volatile manner Thursday and are trading lower today. The contract has breached 132.23, the 61.8% retracement of the Jul 10 - 19 rally. This undermines the recent bullish theme and instead signals scope for a continuation lower. The focus is on 131.61, the 76.4% retracement point. Further out, key support at 130.60, the Jul 10 low, has been exposed. Initial firm resistance is at 134.01, the Jul 24 high.

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