Free Trial

(U3) Resumes Its Long-Term Downtrend

BUND TECHS
  • RES 4: 134.88 High Jul 19
  • RES 3: 134.01 High Jul 24
  • RES 2: 132.47/133.45 20-day EMA / High Aug 8
  • RES 1: 131.12/67 Low Aug 4 and recent breakout level / High Aug 14
  • PRICE: 130.30 @ 11:29 BST Aug 15
  • SUP 1: 130.24 Intraday low
  • SUP 2: 130.00 Psychological round number
  • SUP 3: 129.69 1.00 proj of the Jul 19 - Aug 4 - Aug 8 price swing
  • SUP 4: 128.80 1.236 proj of the Jul 19 - Aug 4 - Aug 8 price swing

Bund futures maintain a bearish tone and the contract is trading sharply lower today. Key support at 131.12, Aug 4 low, and 130.60, the Jul 10 low have been cleared. This strengthens the current bearish theme and marks a resumption of the long-term downtrend. Attention turns to the Psychological 130.00 handle next. A break would open 129.69, a Fibonacci projection. Initial resistance is seen at 131.12.

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.