Free Trial

(U3) Clears The 20-Day EMA

BUND TECHS
  • RES 4: 133.92 High Jul 27
  • RES 3: 133.45 High Aug 8 and a key resistance
  • RES 2: 132.91 High Aug 10
  • RES 1: 132.52 50-day EMA
  • PRICE: 132.38 @ 10:01 BST Aug 23
  • SUP 1: 131.78/20 20-day EMA / Intraday low
  • SUP 2: 130.14 Low Aug 15
  • SUP 3: 130.00 Psychological round number
  • SUP 4: 129.69 1.00 proj of the Jul 19 - Aug 4 - Aug 8 price swing

A strong bounce in Bund futures today has resulted in a break of resistance at the 20-day EMA. Attention turns to the 50-day EMA at 132.52 where a break would threaten the recent bearish theme and instead signal scope for a stronger recovery, potentially towards 133.45, the Aug 8 high and a key resistance. Initial firm support lies at today’s low of 131.20. A reversal lower and a break of this level would be seen as a bearish development.

To read the full story

Close

Why MNI

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.