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(U3) Holding Above Support At The 20-Day EMA

BUND TECHS
  • RES 4: 136.50 High May 11
  • RES 3: 135.85 High Jun 1 and key short-term resistance
  • RES 2: 135.61 High Jun 2
  • RES 1: 135.00 High Jun 27
  • PRICE: 134.67 @ 05:12 BST Jun 29
  • SUP 1: 133.86/132.47 20-day EMA / Low Jun 22
  • 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 remain below Tuesday’s high. The contract has this week breached resistance at 134.77, the Jun 12 high. These latest gains have eased recent bearish pressure and the breach of 134.77 signals scope for a stronger recovery towards 135.85, the Jun 1 high. Initial support lies at the 20-day EMA, at 133.86. A break would be a bearish development. Key support and the bear trigger lies at 132.12, the May 26 low.

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