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(U3) Remains Below Last Week’s Low

BUND TECHS
  • RES 4: 136.97 High Apr 6
  • RES 3: 136.50 High May 11
  • RES 2: 135.85 High Jun 1 and key short-term resistance
  • RES 1: 134.70 High May 5
  • PRICE: 133.96 @ 05:08 BST Jun 6
  • SUP 1: 133.88 Low Jun 5
  • SUP 2: 133.45 Low MAy 30
  • SUP 3: 133.00 76.4%retracement of the May 26 - Jun 1 rally
  • SUP 4: 132.12 Low May 26 and key support

Bund futures have pulled back from last week’s high of 135.85 on Jun 1 and remain below this resistance. A continuation lower would expose key near-term support at 133.45, the May 30 low and if this level gives way, potential would be seen for weakness towards key support at 132.12, the May 26 low. For bulls, price needs to clear 135.85 to reinstate a bullish theme and open 136.50, May 11 high.

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