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(U4) Bear Mode Condition

BUND TECHS
  • RES 4: 133.21 High Jun 14 and the bull trigger
  • RES 3: 132.80 High Jun 25
  • RES 2: 132.24 High Jun 28
  • RES 1: 131.66 50-day EMA
  • PRICE: 130.72 @ 05:29 BST Jul 4
  • SUP 1: 130.28/23 76.4% of May 31 - Jun 14 rally / Low Jul 3
  • SUP 2: 129.52 Low Jun 10
  • SUP 3: 129.37 Low May 31 and the bear trigger
  • SUP 4: 129.00 Round number support

Bund futures remain in a bear mode condition and the contract is trading closer to its recent lows. The sell-off Monday undermines a recent bullish theme and signals scope for a deeper retracement. The next support to watch is 130.28, a Fibonacci retracement. It has been pierced, a clear break would further strengthen a bearish threat. Initial firm resistance is at 132.24, the Jun 28 high. Clearance of this level would highlight a potential reversal.

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  • RES 4: 133.21 High Jun 14 and the bull trigger
  • RES 3: 132.80 High Jun 25
  • RES 2: 132.24 High Jun 28
  • RES 1: 131.66 50-day EMA
  • PRICE: 130.72 @ 05:29 BST Jul 4
  • SUP 1: 130.28/23 76.4% of May 31 - Jun 14 rally / Low Jul 3
  • SUP 2: 129.52 Low Jun 10
  • SUP 3: 129.37 Low May 31 and the bear trigger
  • SUP 4: 129.00 Round number support

Bund futures remain in a bear mode condition and the contract is trading closer to its recent lows. The sell-off Monday undermines a recent bullish theme and signals scope for a deeper retracement. The next support to watch is 130.28, a Fibonacci retracement. It has been pierced, a clear break would further strengthen a bearish threat. Initial firm resistance is at 132.24, the Jun 28 high. Clearance of this level would highlight a potential reversal.