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(U3) Watching Support

BUND TECHS
  • RES 4: 135.00 High Jun 27 and key resistance
  • RES 3: 134.88 High Jul 19
  • RES 2: 134.01 High Jul 24
  • RES 1: 132.71/133.45 20-day EMA / High Aug 8
  • PRICE: 131.93 @ 05:07 BST Aug 11
  • SUP 1: 131.82/12 Low Aug 8 / 4
  • SUP 2: 130.99 Low Jul 12
  • SUP 3: 130.60 Low Jul 10 and a key support
  • SUP 4: 130.00 Psychological round number

Bund futures remain below Tuesday’s high of 133.45 and the contract is approaching initial support at 131.82, the Aug 8 low. A break of this support would signal scope for a deeper pullback and attention would turn to a key near-term support at 131.12, the Aug 4 low, where a break would open 130.60, the Jul 10 low. Key resistance is at 133.45, the Aug 8 high. Clearance of this level would be seen as a bullish development.

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