Free Trial

(U3) Moving Average Studies Highlight A Downtrend

  • 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: 133.88 High Jun 20
  • PRICE: 132.91 @ 05:15 BST Jun 23
  • SUP 1: 132.8 Low Jun 16
  • 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 traded lower Thursday. Recent gains are considered corrective and resistance at 134.77, the Jun 12 high, is intact. A break of this level is required to expose key short-term resistance at 135.85, the Jun 1 high. The focus is on 132.12, the May 26 low and a bear trigger. Clearance of this level would strengthen bearish conditions. Note that moving average studies are in a bear mode position highlighting a downtrend.

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.