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(U4) Trading Above Support

BUND TECHS
  • RES 4: 137.26 3.50 projection of the May 31 - Jun 5 - 1 price swing
  • RES 3: 136.99 3.382 projection of the May 31 - Jun 5 - 1 price swing
  • RES 2: 136.45 76.4% of the Dec 27 - May 31 downleg (cont)
  • RES 1: 135.17/136.28 High Aug 14 / 5 and the bull trigger
  • PRICE: 134.30 @ 05:22 BST Aug 19
  • SUP 1: 133.93 20-day EMA
  • SUP 2: 133.016 50-day EMA
  • SUP 3: 131.62 Low Jul 22 and a key support
  • SUP 4: 131.39 Low Jul 15

A bullish trend condition in Bund futures remains intact and recent gains reinforces this theme. 133.21, Jun 14 high, was cleared on Jul 29, confirming a resumption of the uptrend. Note that MA studies are in a bull-mode position too. A resumption of the trend would open 136.45, a Fibonacci retracement. The contract remains below the Aug 5 high, a pullback is allowing an overbought condition to unwind. Support to watch is 133.93, the 20-day EMA.

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