Free Trial

(U3) Trading Above Support

  • RES 4: 134.88 High Jul 19 and a key resistance
  • RES 3: 134.01 High Jul 24
  • RES 2: 133.92 High Jul 27
  • RES 1: 133.45 High Aug 8 and a key resistance
  • PRICE: 132.23 @ 05:00 BST Aug 29
  • SUP 1: 131.70/20 Low Aug 28 / 23
  • 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 last week resulted in a break of resistance at the 20- and 50-day EMA values. The move higher threatens the recent bearish theme and signals scope for a stronger recovery, potentially towards 133.45, the Aug 8 high and the next key resistance. The contract has pulled back from its recent highs, initial firm support lies at 131.20, the Aug 23 low. A break of this level would be seen as a bearish development.

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.