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(U4) Clears Key Resistance

BUND TECHS
  • RES 4: 134.46 2.236 projection of the May 31 - Jun 5 - 1 price swing
  • RES 3: 134.15 High Mar 3 (cont)
  • RES 2: 134.00 Round number resistance
  • RES 1: 133.60 High Jul 30
  • PRICE: 133.50 @ 05:44 BST Jul 31
  • SUP 1: 132.72 Low Jul 29
  • SUP 2: 132.26 20-day EMA
  • SUP 3: 131.95/62 50-day EMA / Low Jul 22 and a key support
  • SUP 4: 131.39 Low Jul 15

A bull cycle in Bund futures remains in play and the contract is trading higher this week. Monday's gains resulted in a print above 133.21, the Jun 14 high and a bull trigger. The break confirms a resumption of the uptrend and opens the 134.00 handle next. For bears, a reversal would instead refocus attention on key support at 131.62, the Jul 22 low. First support is 132.26, the 20-day EMA.

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